Payment Arrangements

1. Bank Account

Only one bank account from either HSBC, BOCHK or Hang Seng will be accepted

2. Transaction Fee

Initial will levy 3.9% of the transaction amount plus HK$2.35 fixed charge for each transaction

3. Amendment of the amount/Cancellation/Refund

Once the transaction is completed, the details cannot be amended. Hence, if you or your customers would like to make changes, you or your customers would need to use methods other than SHOPAY.

4. Transfer Arrangement

Initial will help SHOPIG sellers collect the money first. The amount will be deposited into the designated bank account according to which period the transactions fall into. The periods are specified below (Both days inclusive):

 

Period 1. 7th to 16th of the same month

Period.2 17th to 26th of the same month

Period.3 27th to 6th of the next month

 

Initial will transfer your receivables to your specified bank account on the first working day in the next period after.

*If the "Pay Day" is a Saturday, Sunday or public holiday, the transfer will take place on the next working day
*If the "Pay Day" is a Saturday, Sunday or public holiday, the transfer will take place on the next working day

5. Wrong Bank A/C No

Initial does not accept any responsibilities for any loss or damage whatsoever arising from the wrongly input bank account number. You will also be responsible for the transaction amendment charges or any other fees arising from amending the transactions