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Transaction Process & Settlement
When a customer pays through WeChat Pay or Alipay, the payment is made in RMB directly from their Chinese bank account at the real-time exchange rate. The funds are then settled by Wechat or Alipay to AlphaPay. We handle the currency conversion and deposit the CAD amount into your designated Canadian bank account.
T+2 (2 business days).
Not at all. Once your customer pays, the exchange rate is locked in at that moment. Tencent settles the payment at that same real-time rate, so you won’t need to worry about any currency fluctuations. You’ll receive the exact CAD amount in your bank account, just as expected.
No, there aren’t. AlphaPay only charges the agreed-upon service fee per transaction. There are no hidden fees or additional handling charges when we settle the funds to your Canadian bank account.
The service fee is charged on each successful transaction. It’s automatically deducted when the payment is settled to your bank account, so there’s no need to worry about monthly invoices or extra steps.
WeChat Pay and Alipay transactions are automatically closed at 12:00 am PST each day. There’s no need for you to perform any manual day-end closing like with traditional credit card terminals.
Refunds, Chargebacks & Fraud
No, you don’t. If you process a refund, the service fee is fully waived. You won’t be charged anything extra.
With WeChat Pay, Alipay, and UnionPay, chargebacks aren’t an issue. These payments work similarly to debit transactions. In cases of fraud, the responsibility lies with the consumer, not the merchant. This means you’re protected from the financial risk of chargebacks and fraudulent claims.
Limits & Compliance
Yes, AlphaPay is fully PCI compliant. We adhere to the Payment Card Industry Data Security Standards (PCI DSS) to ensure secure handling of all payment information.
Transaction limits are determined by each payment platform and can vary by user based on their account type and issuing bank.
WeChat Pay: View WeChat Pay limits
Alipay: View Alipay limits
UnionPay: View UnionPay limits
It depends on the individual, normally 10,000 per transaction.
Additional Questions
Absolutely. AlphaPay works with a wide range of businesses, from local small and medium-sized enterprises to national retailers. Some of our well-known clients include T&T Supermarket, Science World, Herschel, and West Edmonton Mall. Whether you run a small business or a large chain, we can find the perfect solution to support your payment needs.
Absolutely. You can easily access and download your monthly statement anytime through the AlphaPay merchant portal or mobile app. It’s a convenient way to keep track of all your transactions and settlements.
