Frequently Asked

Questions 

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Frequently Asked Questions

About Aleta Planet

Who Is Aleta Planet?

Aleta Planet is a Principal Member of UnionPay International and a payment processor. Aleta Planet is authorised to create and maintain your Merchant Account with UnionPay, to enable your business’s UnionPay acceptance. Together with Aleta Planet’s own payment processing system and Aleta Planet Online Platform, we provide B2B and B2C businesses end-to-end payment services and solutions. Aleta Planet streamlines billing and payment collection processing by allowing you to bill and collect your payments electronically and automatically, for the selling of goods and services to your customers. Our tailored, secure payment solutions include but are not limited to B2B and B2C e-commerce, SME-focused payment solutions such as mobile POS system, SMS and email payments.

What Is an acquirer?

The acquirer, also known as an acquiring bank or merchant bank, is a bank or financial institution, licensed as a member of a card association (like UnionPay, Visa or MasterCard), that creates and maintains the Merchant Account with the card network. An Acquirer, together with the Card Issuers (Banks) and Card Association (VISA/Mastercard/UnionPay), makes up the primary entities of the card payment processing between merchants and cardholders.

What are the responsibilities of an acquirer?

An acquirer is responsible for receiving the card transaction details from the merchant’s terminal, passing these through to the card issuer via the card scheme for authorisation and completing the processing of the transaction. The acquirer will arrange the card transaction’s settlement and will typically credit the merchant’s nominated bank account with the funds in accordance with the service agreement.

What Is the difference between a licensed bank acquirer and a licensed non-bank acquirer?

In terms of the responsibilities and functions of being a licensed acquirer, there is no difference between a bank and a non-bank licensed acquirer. In fact, a non-bank acquirer usually offers a more flexible service to their merchants, such as a bank acquirer might require a merchant to open and maintain a bank account with them for the settlements; whereas a non-bank acquirer such as Aleta Planet can provide merchants with the settlement service with their existing bank account.

Why do card associations need so many acquirers, bank and non-bank?

Card associations such as VISA, Mastercard and UnionPay sit at the centre of the payment industry, but do not issue cards or merchant accounts. Card Associations rely on acquirers to onboard merchants to widen the acceptance of their card brand as a payment choice in the market. Similarly, on the card issuing side, Card Associations partners with many Issuing Banks to increase the number of cardholders, thereby increasing the paying potential of their card network. Therefore, Card Associations have both bank and non-bank acquirers that serves different specified industries or provide different value-added services. However, Card Associations have strict criteria for acquiring merchants for their card network, and only provides licenses to acquirers that can provide a strong proposition that helps them to expand their acceptance network.

Card associations primarily facilitates transactions among consumers, merchants, processors, and banks, supplying the electronic networks and infrastructure that allow all the players to communicate and process transactions. Other primary responsibilities of the Card Association are to govern the members of their associations, including interchange fees and qualification guidelines, act as the arbiter between issuing and acquiring banks, maintain and improve the card network and their brand

Card associations primarily facilitates transactions among consumers, merchants, processors, and banks, supplying the electronic networks and infrastructure that allow all the players to communicate and process transactions. Other primary responsibilities of the Card Association are to govern the members of their associations, including interchange fees and qualification guidelines, act as the arbiter between issuing and acquiring banks, maintain and improve the card network and their brand.

What is a Merchant Account?

A Merchant Account is a special account that enables your business to accept payments by cards. Card payments can only be processed through a Merchant Account. You must have a Merchant Account to be able to accept card payments.

Why do merchants need acquirers?

When Merchants want to accept and process card transactions for the goods and services that are rendered to their customers, they need to sign a contract with an Acquirer. During the payment process, the Acquirer authorizes card transactions and connects issuing banks via the card network channel on the Merchant’s behalf.

If the purchase is approved, the funds are settled to the Merchant via the Acquirer

How is Aleta Planet different from other payment processors?

As an All-In-One Platform, Aleta Planet provides Merchants with a full suite Online Payment Solution, from creating and maintaining merchant accounts for merchants, to processing payments directly through our own payment gateway, developed by our inhouse experts.

Even as there are many payment gateways and 3rd party payment services in the market, few of them provides a full value-added service like Aleta Planet. While the primary responsibility of Aleta Planet as a Certified Principal Member, it is to create and maintain the merchant account for your business, Aleta Planet provides merchants with further front-end value added services such as the Aleta Planet Online Platform, while also developing and managing the back-end payment processing via the in-house Payment Gateway.

Merchants using Aleta Planet effectively cut out traditional middlemen in the payment chain, such as Master Merchants and Third-Party Payment Gateways, resulting in better efficiencies and lower costs. Aleta Planet helps you to save time and money and make payment management a hassle-free experience.

What is a Payment Gateway?

The gateway takes the card details that customers enter in on the website or payment platform and transfers it to the processor to get the funds released to the Merchant Account. The payment gateway allows you to connect your website to the payment processor. It authorizes cards and electronic payments by encrypting the sensitive data. That is how the customer’s money gets into your Merchant Account.

Who is UnionPay?

Founded in March 2002, UnionPay (also known as China UnionPay or by its abbreviation, CUP) is a bankcard association established under the approval of the State Council and the People’s Bank of China, the central bank of China. UnionPay function as a card organization and collaborate with commercial banks to maintain the discourse right and a dominant position in China’s bankcard industry, safeguard the economic and financial security of China, further promote the development of bankcard industry, as well as provide quality, safe and efficient bankcard service for the public. The ultimate goal of UnionPay is to become a bankcard association with national authority and trustworthiness as well as international competitiveness and influence, and to create an independent payment brand of China with global influence that serves China and more countries and regions.

UnionPay is also the only interbank network in Chinese mainland that connects all of the ATMs of all banks throughout China.

Find out more about UnionPay here.

What Is the difference between China UnionPay (CUP) And UnionPay International (UPI)?

UnionPay International (UPI) is a subsidiary of China UnionPay (CUP) focused on the growth and support of UnionPay’s global business. In partnership with more than 2300 institutions worldwide, UnionPay International has enabled card acceptance in 179 countries and regions with issuance in 61 countries and regions. UnionPay International provides high quality, cost effective and secure cross-border payment services to the world’s largest cardholder base and ensures convenient local services to a growing number of global UnionPay cardholders and merchants.

More information is available here.

Are you a member of UPI network?

Yes, we are a Certified Principal Member of UPI network. We have passed the stringent T25 tests. We are also PCI DSS and Trustwave certified.

Does Aleta Planet conduct businesses in China?

No. As an acquiring member of UnionPay International, Aleta Planet’s scope of merchant acquiring is within designated countries that Aleta Planet is licensed to acquire.

However, Aleta Planet has a subsidiary called Moovmall, which is a global e-commerce platform that provides merchant an online platform to buy and sell products and services.

Why do you need Aleta Planet

How does Aleta Planet help you and your business?

Aleta Planet enables your business to easily start accepting online UnionPay card payments from your customers, by providing your business with a merchant account, Online Payment Platform, payment processing capabilities; All-In-One solution.

With Aleta Planet, merchants can immediately enjoy fast, safe and secure Online Payment Acceptance capabilities without the need to incur costly leasing of POS systems (which only allows in-person card payment) or invest in expensive and time-consuming development of their own Internet E-commerce front-end online system (to accept payments online).

Apart from being the principal member of UnionPay International, Aleta Planet is a global acquirer for Discover & Diners, JCB & PayNow. Furthermore, we are also WeChat enabled. With these comprehensive offerings under our belt, we are able to accelerate your network beyond China to the rest of the World.

Why should we work with Aleta Planet?

Aleta Planet provides merchants with an easy and fast registration process, which allows merchants to start online card acceptance for their goods and services as soon as within 1 working day. Aleta Planet strives to provide merchants with the fastest settlement turnaround time, where merchants can expect to receive payments for their goods and services as soon as the next working day. With Aleta Planet’s all-in-one online payment platform, Merchants are able to collect payments across the globe with just a click of the mouse which saves time and money. Aleta Planet’s platform is SSL secured, PCI DSS and Trustwave certified to ensure maximum security.

What kind of businesses would benefit the most from Aleta Planet?

Traditional Merchants: Aleta Planet provides Merchants access to Aleta Planet’s Online Platform, which enable traditional merchants to send payment requests directly to their client’s email, and to collect the payments electronically and globally, without the need to invest in any costly IT infrastructure and software development.

E-Commerce Merchants: For E-Commerce Merchants, Aleta Planet enables UnionPay acceptance directly on your website and/or mobile app, increasing the flexibility of payment options for your customers. Aleta Planet provides a direct API connection to Aleta Planet’s payment gateway, and easy to follow demo files for you to configure your website. E-Commerce Merchants using Aleta Planet can also track and manage their transactions through Aleta Planet’s Online Platform.

Aleta Planet caters to all business types but is especially beneficial to businesses that are currently dependent on paper checks, paper invoices, physical POS machines, and businesses that currently do not accept UnionPay cards and need to implement online payment solutions.

Can I save costs by using Aleta Planet?

Yes, absolutely. Aleta Planet works with Merchants to offer a competitive transaction rate and saves money and time by streamlining payment processing, which frees up more productive time for your employees to increase sales revenue.

Who can merchants collect payments from?

Aleta Planet enables Merchants to collect payments from both companies and individuals, as long as the payor has a UnionPay Card or a Chinese Internet Banking Account.

Signing up with Aleta Planet

How do I sign up with Aleta Planet?

You can contact us at cs@aletaplanet.com.

How do I submit my documents?

You can contact our Business Manager at cs@aletaplanet.com to submit your documents.

What are the mandatory documents required for merchant sign up?

For merchant sign up, please ensure that you have the following documents (scan or photo) ready to complete the application process:

  • A copy of the company’s ACRA Business File
  • A copy of any one of the directors’ ID (NRIC for local & PR, Passport for foreigner)
  • A copy of the Primary Contact’s ID (NRIC for local & PR, Passport for foreigner)
  • A copy of the company’s bank statement or a voided company cheque confirming the Account Holder & Bank Name or, Account Opening Letter for crediting verification

Physical copies of the above documents are not required, in line with industry’s effort of going paperless, digital copies of the documents are preferred.

In what format must the documents be?

The documents can be uploaded onto the merchant account application form in PDF, JPEG, PNG, Word format.

Why is bank account proof required?

Bank account proofs are necessary to verify and cross check that the Merchant’s bank account information is correct, to ensure that settlement of funds to the Merchant can be processed accurately and efficiently.

Who can sign the Aleta Planet Merchant Agreement?

The Aleta Planet Merchant Agreement must be signed by an authorised person of the company, i.e. Director.

Are original documents and Merchant Agreements required?

No. Scanned and digital copies are accepted and preferred, as long as they are clear and legible.

What are the costs involved in using Aleta Planet?

We only charge a competitive service fee when you make a transaction via Aleta Planet. There are no other charges for signing up or maintaining your Aleta Planet Account. Please contact us directly for pricing, our Aleta Planet Business Manager will review and provide you with the best available rate based on your business needs and industry type. You can reach us at cs@aletaplanet.com.

How much does it cost to sign up with Aleta Planet?

It is completely free to sign up with Aleta Planet.

What are the costs involved in using Aleta Planet?

We only charge a competitive service fee when you make a transaction via Aleta Planet. There are no other charges for signing up or maintaining your Aleta Planet Account. Please contact us directly for pricing, our Aleta Planet Business Manager will review and provide you with the best available rate based on your business needs and industry type. You can reach us at cs@aletaplanet.com.

What kind of companies and industries are prohibited from Using Aleta Planet?

Merchants that are involved in agricultural cooperatives, financial services and entertainment gaming institutions which includes betting, lottery tickets, casino gaming chips and etc are fully prohibited from signing up a Aleta Planet Account.

Merchants that are listed in the national or local relevant departments’ blacklist; entered as a “terminated merchant” in UnionPay International Risk Information Sharing System are restricted from registering for an Aleta Planet Account.

Transactions

Who can merchants collect payments from?

Aleta Planet enables Merchants to collect payments for their goods and services from both companies and individuals, as long as the payor has a UnionPay Card or a Chinese Internet Banking Account.

Does the payor (i.e. merchant’s customer) needs to be registered with Aleta Planet?

No. The payor need not be registered with Aleta Planet to make payments.

How do I know when my customer has paid?

You will be notified of every transaction via email. Also, you will be able to view a payment history for your customers.

Is there any transaction limit for each transaction?

Yes. The single transaction limit is 500,000 CNY (or equivalent in other currencies) per transaction. The transaction limit for the Merchant to collect from a SINGLE card is 500,000 CNY (or equivalent in other currencies) per day.

Can these transaction limits be increased?

Yes. The Merchant can request Aleta Planet to increase their transaction limit, subject to approval.

Is there any total transaction limit for the Merchant?

No. There is no limit on the total transaction amount a Merchant can collect.

What Is the limit for UnionPay Card?

The card limit is dependent on the payor’s card limit with their bank. You may wish to contact your bank to check on your card limits .

What if payor needs to transaction a payment larger than their card limit?

The payor will need to contact their bank to increase the card limit for online transactions. Alternatively, if your client has a bank account in China, he/she can make the payment through internet banking by clicking on the “E-Bank Payment” option at the payment page. “E-Bank Payment generally allows for a higher transaction limit compared to cards.

What is the difference between payment using Card and Internet Banking when the payor is at the payment page?

Generally, payments through internet banking allows the client a much higher transaction limit as compared to card payment. This is because the 2FA through internet banking tokens are deemed more secure by the banks.

Exact transaction limit is still depending on the payor’s arrangement with their bank.

More information is available here.

Is there any transaction limit for payments via Internet Banking?

The limit for e-debit via Internet Banking is dependent on the client’s e-banking arrangements with their Banks, maximum up to 10,000,000 CNY (or equivalent in other currencies).

Can I use Aleta Planet to get paid in China from overseas?

Aleta Planet will be launching a new business with UnionPay Money Express soon. Through the Money Express platform, Chinese nationals staying overseas can conveniently remit their salaries to the UnionPay accounts of their families and friends in China almost instantly.

Find out more here.

What is the transactional reference foreign exchange rate for different currencies when I use Aleta Planet?

Aleta Planet abides by the strict rules and regulations of UnionPay International in regards to exchange rates and uses the exchange rates that UnionPay charges at the point of transaction. You can refer to the Exchange Rate Query on UnionPay’s website here or contact UnionPay International for reference.

Please note that the exchange rates displayed at UnionPay’s website may not synchronize with the exchange rates in UnionPay System.

UnionPay Cardholders may consult with the Issuers for more information on exchange rates.

*The above information is for reference only.

Settlement and Chargeback

How will I receive the funds from my customers who completed the payment requests Sent Via Aleta Planet?

The payments completed via Aleta Planet will be consolidated and settled to you daily*. The funds will be transferred to the settlement bank account that you provided during application.

*excluding weekends, public holidays and UnionPay Settlement Holidays

What are Settlement Holidays?

Settlement Holidays are days when there are no settlements made, either due to your local bank not operating due to your local bank holiday, or China UnionPay not operating due to holiday in China. All settlements that are supposed to be settled during these periods will be consolidated and processed on the following working day.

When will the merchant receive the funds in his bank account after a successful transaction?

Payment for completed transactions will be deposited into merchant’s bank account within the next business day subjected to both local business day and related International Card Associations’ business day. Please refer to your settlement report to reconcile your transactions against your bank statement

How does the merchant know when the transaction is settled?

The Merchant can check their Aleta Planet Account. Alternatively, the Merchant can also check the inflow of funds in their bank account.

How can merchant change my bank account information?

Merchant can write to CS@aletaplanet.com with a copy of the bank statement to request update of the bank account information

What is Chargeback?

A chargeback is when a customer files a refund request with their bank, it means that they are disputing a charge and asking the card issuer or bank for a refund. The chargeback process is initiated outside of Aleta Planet, between the card issuer or bank and their cardholder or account holder. In a dispute over a chargeback, the decision is ultimately made by the card issuer or bank where Aleta Planet does not decide the outcome.

Our Aleta Planet Manager, Client Services will inform you if you receive a chargeback. If you do not agree that the chargeback is valid, you can help us dispute it by providing more information about the transaction.

When should merchant deliver goods to customer not at the store?

Merchant should deliver goods or services to customer only after receiving successful payment notification

Security

How secured are transactions made through Aleta Planet?

Aleta Planet platform’s encryption must meet all of UnionPay’s stringent standard before we are allowed to process any payments. The input of card information by the payor is performed on UnionPay’s platform (website), to ensure maximum security. Our website and online platform are SSL secured, and our system and network environment is PCI DSS certified.

What is PCI DSS?

The Payment Card Industry Data Security Standard (PCI DSS) is a set of security standards designed to ensure that all companies that accept, process, store or transmit card information maintain a secure environment. The PCI DSS applies to any organization, regardless of size or number of transactions, that accepts, transmits or stores any cardholder data.

What is SSL?

SSL (Secure Sockets Layer) is a method of ensuring that information submitted through a website is secure and cannot be accessed by unauthorized users. When a site offers an SSL-secured form, the information submitted via that form (typically card information) is encrypted using a special certificate key and then decrypted with another key after it has been transmitted. When users access a site secured with SSL using their browser, a symbol displays in their browser windows indicating that the site is secure.

Technical Support

Do I need to be trained to use Aleta Planet Account? How long does it take?

The Aleta Planet system is easy to use. Aleta Planet provides free technical support and will work with you and your staff to ensure that the Aleta Planet system is used correctly and is well integrated with your business. You can reach us at cs@aletaplanet.com.

What if I need help with my terminal or gateway?

All of our online and mobile payment solutions are fully supported by our in-house technical team so users can use our system with confidence. Aleta Planet provides free technical support if required. You can reach us at cs@aletaplanet.com.

Where can I get additional help or questions?

You can find answers to commonly asked questions at Aleta Planet FAQ. If you cannot find your answer, you can reach us at cs@aletaplanet.com.

How can I recover my Merchant Account login details?

If you are having issues signing into your Merchant Account because you forgot your Merchant Code or password, you can reach us at cs@aletaplanet.com.