🔥 Transaction records display the local currency amount and the real-time exchange rate
Exchange rate source
We apply the issuing bank’s real-time official exchange rate, with no additional FX markup.
Notes
For small-value transactions, since fees are charged on a percentage basis and rounded according to standard rounding rules, the effective exchange rate may slightly differ from the market rate.
For larger transactions, this impact becomes negligible, and the final rate is closer to the actual market exchange rate.
A transaction is considered cross-border when the cardholder makes a payment in a country or region that is different from the card’s issuing country, regardless of whether the transaction currency matches the card’s base currency.
Cross-border status is determined by whether the merchant’s country differs from the card’s issuing country (BIN country):
If the countries are different, the transaction is considered cross-border.
Even if the transaction currency is the same as the card’s base currency, it may still be classified as cross-border.
Examples
Card Base Currency | Transaction Country | Transaction Currency | Cross-border |
|---|---|---|---|
USD | United States | USD | No |
USD | Singapore | USD | Yes ✅ |
SGD | Malaysia | SGD | Yes ✅ |
A transaction may fail due to the following reasons:
Transaction failure due to insufficient card balance.
Transaction failure because the card is not active (a frozen card falls under this category).
Transaction failure due to incorrect card information (card number/CVV/expiration date).
Transaction failure because the card cannot be used due to expiration.
Transaction failure because the card was blocked by the platform due to risk control.
Q: What is a refund fee?
It generally refers to a fee charged by the bank, card network, or payment channel when a refund occurs.
Q: What is the difference between a refund and a transaction reversal?
Refund refers to the merchant actively returning settled funds, whereas a Reversal refers to canceling a transaction before it has been settled.
Comparison Dimension | Refund | Transaction Cancellation |
|---|---|---|
Core Precondition | Transaction has been fully settled, and funds have been credited to the merchant’s account | Transaction has not been settled |
Trigger Time | Any time after the transaction is completed (subject to merchant rules) | Within a short period after transaction initiation (usually a few minutes to 24 hours) |
Initiating Party | Primarily initiated by the merchant (requiring bank settlement) | Can be directly initiated by the payer / issuing bank / payment institution |
Fund Status | Funds need to be returned from the merchant’s account to the payer’s account | Funds have not been credited to the merchant’s account |
Funds Receipt Speed | Slow (7–30 calendar days) | Instant (funds are unfrozen / no actual deduction occurs) |
Common Scenarios | Return & refund, duplicate charges, service cancellation | Change of mind after payment, incorrect payee information, accidental payment |