Dear Maesh family member,
Our goal for Maesh has always been to be there for you, the Singaporean SME merchant, the backbone of the Singapore economy.
We have emphatically declared war on exorbitant card processing fees, we have sped up settlements by the unheard of same-day payouts, and we have been persistent with banks in making mobile bank transfers smoother, which finally materialized into Maesh’s Mobile Redirect using OCBC Pay Anyone™.
We still believe that we can make bank transfers cheaper, quicker, and smoother.
It is however — with a heavy heart — that:
We are ceasing operations this Thursday, January 28 at 8PM SGT.
How come ah?
Coming Thursday, January 28, 2021, our exemption for the Payment Services Act expires. As a part of the application for a Standard Payment Institution license we are required to have a Singaporean or Permanent Resident be a director of our company. We do not have such a person, nor have we found an appropriate candidate for this position with sufficient experience. So, we cannot apply.
Why you tell us so late sia?
We’ve tried our utmost best to avoid this outcome in the last couple of weeks. In the eleventh hour, our plans didn’t pan out as expected. We are truly sorry for the inconvenience caused.
Means Maesh no more or what?
To tackle this from the start: Any monies you have with us are still safe. Maesh is financially healthy and you do not have to worry about any settlements not being made the coming days. You can also still make use of Maesh’s payment services up to Thursday, January 28 at 8PM SGT. After that we will make sure all of the remaining funds will be settled that same day to you. Instantly.
Maesh will also not disappear right away after Thursday. Our Maesh Dashboard will remain available for another 2 months (until March 28, 2021). In that way, you can still access any reports that may be useful to you or your bookkeeper or say your goodbyes to Maesh.
What I do next?
Of course, Maesh is not leaving you out in the cold. We are committed to making sure that every merchant finds a new home.
We have already connected with the payments company Rapyd which we believe is currently the best alternative to Maesh for PayNow QR payments in Singapore.
Rapyd will offer all of Maesh’s merchants the same pricing they have today, once your Rapyd account is activated, or will offer you flat S$0.50 pricing if that’s better for your business.
Once your account is set up, Rapyd also can offer you the same OCBC Pay Anyone™ redirect on mobile, GrabPay, kiosk and cash payments, and even credit and debit cards.
Migration for WooCommerce
If you currently use Maesh through WooCommerce, the simplest way to get started with Rapyd is by:
- Creating your Rapyd account here
- Following Rapyd’s WooCommerce integration tutorial
- Alternatively, you can check out their plugin in the WooCommerce plugin store.
You can also follow along with the below video tutorial to get you up and running:
Migration for Other Platforms
If you have been using Maesh in a different way, we have already gotten into contact. If not, please do reach out to us using any of the contact details below.
Even though we hope to have been as clear as possible in this message, there may still be questions. For that, you can simply send an email to firstname.lastname@example.org or call us at our hotline at +65 9338 9577 (Vincent). We will try our best to respond as soon as we can.
Although we will still see this through to the end, we would already like to thank you for your continued trust in Maesh. On behalf of the entire current and former team at Maesh (Brennan, Deep, Aditya, Bryan, Giordan, Nanda, Diana and Vincent): It was our pleasure to serve you.
Founder & CEO of Maesh Pte. Ltd.