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Digital Banking

Important Notice:

Notice of Amendments to the Merchant Services Terms and Conditions

Dear merchants,

 

We would like to inform all CIMB merchants regarding the amendments to the Merchant Services Terms and Conditions and Appendix H (Applicable to QR Code Transactions) which shall take effect from 8 July 2022.  A list of the amendments are set out in the table below:

Clause No. New/ Amended Clause effective 8 July 2022

Merchant Services Terms and Conditions

Clause 1 Definitions

Insertion of additional definitions on DuitNow QR, and expanded definition of Merchant’s Designated Account:

 

“DuitNow National QR Code Standard” means DuitNow National Quick Response Code Standard specification developed and managed by PayNet for domestic interoperable QR Code use cases.

 

“DuitNow QR” or “DuitNow QR Services” means a service offered by PayNet, which facilitates industry wide ubiquitous payments or credit transfers by scanning the QR Code, which complies with DuitNow National QR Code Standard.

 

“Merchant’s Designated Account” means the Bank/ CIMB Islamic Bank Business Current Account nominated by the Merchant into which the Bank may make payments by way of a direct credit.

Merchant Services Terms and Conditions

Clause 2.2 (i)

New sub-clause (i) in clause 2.2 to extend application of Schedule 1 of Appendix H for DuitNow QR Services:

 

2.0    PAYMENT CHANNELS & PROGRAMS/ SERVICES

 

2.2    For participation in:

(i)  the DuitNow QR Services, the Additional Terms and Conditions for DuitNow QR Services set out in Schedule 1 of Appendix H shall also apply.

Merchant Services Terms and Conditions

Clause 24.7(d)

Deleted clause 24.7(d) in the Privacy Clause for Corporate Merchants.

Merchant Services Terms and Conditions

Clause 24.9.1

Revised the Merchant’s Designated Account in line with its definition:

 

24.9.   Authorised signatory(ies) for the merchant services

 

24.9.1   All instructions, requests and communications in relation to the merchant services given to the Bank shall be signed by the person(s) authorised to operate the Merchant’s Designated Account (only applicable if it is a Business Current Account with the Bank or CIMB Islamic Bank Berhad) (“Authorised Signatory(ies)”), unless specific written instruction is given to the Bank to allow designated alternate person(s). The signature of the Authorized Signatory(ies) on such instructions, requests and communications shall match the specimen signature in the record of the Bank or CIMB Islamic Bank Berhad, failing which the Bank has the discretion to decline acting on the same.  

Appendix H

Clause 2

Insertion of a new clause 2 to extend application of Schedule 1 for DuitNow QR Services:

 

ADDITIONAL TERMS AND CONDITIONS FOR DUITNOW QR SERVICES

 

When using DuitNow QR Services, the Additional Terms and Conditions for DuitNow QR Services set out in Schedule 1 shall also apply.

Appendix H

Clause 3

(Clause 2 in existing Appendix H)  

Renumbered existing clause 2 to clause 3 and expanded the clause:

 

APPENDIX H (INCLUDING SCHEDULE 1) IS TO BE READ WITH MERCHANT SERVICE TERMS AND CONDITIONS

 

This Appendix H (including Schedule 1) is to be read together with the Bank’s Merchant Services Terms and Conditions. If QR Codes and/or DuitNow QR Services are used in conjunction with other Payment Channels, the respective terms and conditions governing those Payment Channels shall apply in addition to this Appendix H (including Schedule 1). Where there is inconsistency, Appendix H (including Schedule 1) shall override the Merchant Services Terms and Conditions, in so far as it relates to QR Codes and/or DuitNow QR Services.

Appendix H

Schedule 1

Insertion of Schedule 1 - Additional Terms and Conditions for DuitNow QR Services

 

Please refer to the website link below for the full Schedule 1 under Merchant Services Terms and Conditions, Appendix H (effective 8 July 2022).

Please refer to www.cimb.com.my/ms-info for the amended Terms & Conditions.

 

Should you have any queries, please contact us at 03-6204 7733 or email to emerchant@cimb.com