Is it hard for a company to register fpx payment system? What is the requirement

The process of registering for FPX (Financial Process Exchange) payment system may involve several steps and requirements, including:

1. Partnership with FPX: The company must establish a partnership with FPX to enable the use of the payment system for their transactions.
2. Bank Onboarding: The company may need to onboard with one or more Malaysian banks that are participating in the FPX network, ensuring they have the necessary banking services and infrastructure in place.
3. KYC and AML Compliance: The company must comply with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations to ensure the legitimacy of transactions and protect against financial crime.
4. System Integration: The company must integrate the FPX payment system into its existing business management systems, such as the e-commerce platform or payment gateway, to enable seamless transactions for customers.
5. Training and Support: The company may need to provide training to its staff and customers on how to use the FPX payment system, as well as offer technical support to address any issues that may arise.
6. Transaction Limits: The company may need to adhere to the transaction limits set by FPX and the participating banks, ensuring that the payment system is used within the specified parameters.
7. Reporting and Analytics: The company may be required to provide regular reports and analytics on transaction data to FPX and the banks, which can help identify trends, potential issues, and opportunities for improvement.

Overall, registering for FPX payment system requires a company to meet a range of financial, operational, and technical criteria to ensure a secure and seamless payment experience for its customers.