Suppose that you are browsing an online business store with a clear intent to purchase something from it.

You add the item to your cart and proceed to checkout. To do as such, you will require a payment gateway through which you can pay for it. 

A web-based payment gateway is answerable for all transactions of the store. 

You simply enter the details of your credit/debit card on the payment gateway page and make the purchase. The payment gateway will work by deducting the sum from your debit/credit card and send it to the merchant’s account in the wake of deducting a few service charges.

This is such a crucial service for businesses in the online platform to generate revenue. Let’s suppose you have established an e-commerce platform and are now looking for a payment gateway. 

Here are the rules that you have to follow when weighing which payment gateway is best for you: 

  1. Select a payment gateway that is mainstream in the nation where you are focusing on your items.
  2. Ensure the payment gateway offers a low transaction charge. 
  3. Although not important for every business, it needs to be somewhat accessible globally — allows you to scale your business quicker in the worldwide market.
  4. Check if it offers a decent shopping experience to the clients.

We have curated a list of the best payment gateways that are used the most in Malaysia. From the list, you will get to know the differences between each of them and the services they provide. This list is arranged in no specific order.

 

1. PayPal 

 

best payment gateways for businesses in malaysia

 

Established in the US, PayPal has nearly 20 years of experience in handling online payment systems and serves as an electronic substitute to traditional payment methods such as money order and cheque.

The PayPal Express Checkout option gives your customers a simplified checkout experience that keeps them engaged throughout the payment authorization process. Additionally, it also enables your customers to use their PayPal balance, bank account, or even debit/credit card to pay without sharing or entering any sensitive information. Meaning, you do not need to share your debit/credit card credentials or bank account number when trying to make purchases online as you only need your PayPal account email address. 


  1. Setup Fee: None
  2. Payout Fee: None
  3. Payout Time: On Request
  4. Transaction Fee: 
    • Malaysia – 3.9% +RM 2.00
    • Overseas – 4.4% + RM 2.00
  1. Annual Fee: None

🌐 More info: https://www.paypal.com/my/home


 

 

2. Stripe 

 

best payment gateways for businesses in malaysia

 

Stripe is another US-based payment gateway that’s available in more than 25 countries, including Malaysia.

It supports all major debit/credit cards as well as offers seamless WooCommerce integration as well.

The payment platform and the dashboard that comes with it is extremely powerful and full of detailed insights on your e-commerce transactions. The main difference between this service and many others is that Stripe isn’t just an out-of-the-box solution. Instead, you can also add your own customizations and configure the payment platform to best befit your customer purchasing experience. With a wide range of flexible tools and customizations, Stripe is one of the powerful and easiest payment gateways to work with if you’re a developer.


  1. Setup Fee: None
  2. Payout Fee: 1% of the amount
  3. Payout Time: 5 Business Days
  4. Transaction Fee: 3.0% + RM 1.00
  5. Annual Fee: None

🌐 More info: https://stripe.com/en-my


 

3. 2Checkout 

 

best payment gateways for businesses in malaysia

 

2Checkout is another payment gateway that’s available in more than 87 countries. It supports all major credit cards such as Visa, Mastercard, Diners Club, American Express, and others.

It is also available in many third world countries, where it is used in combination with another payment gateway. To embed the payment gateway on your site, you are furnished with bits of code. Moreover, dealing with your installments after that become inconceivably straightforward. 

Additionally, you get fast integrations with the most praised online retail platforms like Bigcommerce and Shopify.


  1. Setup Fee: None
  2. Payout Fee: 15 USD/GBP/EUR (only for 2Sell and 2Subscribe)
  3. Payout Time: 2 – 5 Business Days
  4. Transaction Fee:  3.5% + RM 1.50
  5. Annual Fee: None

🌐 More info: https://www.2checkout.com/


 

 

4. Braintree 

 

Braintree

 

Braintree, a division of PayPal, is a company based in Chicago that focuses on providing mobile and web payment systems for e-commerce businesses.

​They accept and process payments in 40+ countries and over 130 currencies. 

Braintree offers vendor accounts and a payment gateway, with a high level of adaptability and various services accessible at no charge past processing fees. That makes it perfect for groundbreaking application designers, e-commerce organizations, and other Internet-based, tech-driven vendors. It additionally gives consistent, frictionless billing while at the same time providing access to billing data such that most suppliers don’t permit.


  1. Setup Fee: None
  2. Payout Fee: None
  3. Payout Time: 2 Days
  4. Transaction Fee:  
    • 3.5% + RM 2.00
    • An additional 1% fee applies to transactions presented outside of your home currency.
  1. Annual Fee: None

🌐 More info: https://www.braintreepayments.com/my


 

 

5. SenangPay 

 

best payment gateways for businesses in malaysia

 

Fairly new to the market, SenangPay makes the payment process ‘senang’! It is managed by Simplepay Gateway Sdn Bhd.

With senangPay, you can share your payment through Facebook, Whatsapp, e-mail, blog, and even integrate into your online store!

SenangPay accepts all types of debit or credit cards (locally and internationally) as well as FPX! They also now accept multi currencies too, so for sellers who want to sell abroad, they have got you covered.


  1. Setup Fee: None
  2. Payout Fee: None
  3. Payout Time: Twice a week, Wednesday, and Friday. Except for public holidays.
  4. Transaction Fee: 
    • For credit/debit card, 2.5% per transaction. 
    • For internet banking, 1.5% per transaction.
  1. Annual Fee: Starts from RM 300 per year

🌐 More info: https://senangpay.my/


 

 

6. Billplz 

 

best payment gateways for businesses in malaysia

 

Billplz was created as a software for merchants to collect payments fast with minimal costs as possible. Their clientele include Axiata, Telekom Malaysia (TM), Digi as well as Majlis Agama Islam Selangor (MAIS). The software focuses on providing four services to merchants, i.e. API, Billing, Payment Form, and Mass Payments.


  1. Setup Fee: None
  2. Payout Fee: None
  3. Payout Time: 
    • FPX: Next business day (except Friday)
    • Credit/Debit Card – Multiple times a week
    • PayPal: On request
  1. Transaction Fee:
    • FPX – RM 1.00 per transaction
    • Credit/Debit Card – 2.5% 
    • PayPal – 3.2%
  1. Annual Fee: RM 1800.00 (RM 150.00 per month)

🌐 More info: https://www.billplz.com/


 

 

7. iPay88 

 

best payment gateways for businesses in malaysia

 

iPay88 is an award-winning payment gateway provider based in South East Asia.

They are also very popular here in Malaysia and are one of the biggest payment gateways for local businesses. iPay88 has assisted thousands of successful entrepreneurs in the e-commerce and m-commerce space via their online payment ecosystem.


  1. Setup Fee: RM488 (Start-Up Plan), RM488 (SME Plan)
  2. Payout Fees: RM900 (one-time fee) for credit card gateway, enforced by banks. Can be waived on a case-by-case basis, depending on the nature of business.
  3. Payout Time: Weekly
  4. Transaction Fee:
    • Start-Up Plan 
      • 3.2% per transaction for debit/credit card (Paypal) domestic transactions only. Additional charges may apply for multi-currency usage.
      • 3.0% per transaction or minimum RM 0.60 whichever is higher for online banking (e-debit)
    • SME Plan
      • 2.7% per transaction for credit card, 3.2% per transaction for credit card (Paypal) Domestic Only. Additional Charges for Multi-Currency
      • 2.7% per transaction or minimum RM 0.60 whichever is higher for online banking (e-debit)
  1. Annual Fees: RM 500 (Startup), Free (SME)

🌐 More info: https://www.ipay88.com/


 

 

8. Razer Merchant Services (fka MOLPay) 

 

Razer Merchant Services

 

Razer Merchant Service (formerly known as MOLPay) is an online payment solution that allows your e-commerce business to collect payments from online customers securely via both physical and online payment channels.

They help clients to establish a foothold in Southeast Asia’s market through their full-range payment alternatives such as online banking, cash at 7-Eleven, e-wallet, and many more. Their single API serves as a connector for clients to reach all consumers across Southeast Asia.


  1. Setup Fee: RM 499.00
  2. Payout Fees: RM 945.00 (one-time fee) fee for credit card gateway, enforced by banks. It can be waived on a case-by-case basis, depending on the nature of the business.
  3. Payout Time: Weekly
  4. Transaction Fee:
    • MOL Startup – 3.8% per transaction or minimum RM 0.60 for online banking (e-debit) and MOLPay’s 7-11 cash channel
    • MOLPay Premium – 2.8% per transaction for credit card, per transaction, or minimum RM 0.60 for online banking (e-debit), for MEPS Cash and Webcash and MOLPay’s 7-11 cash channel.
  1. Annual Fees: RM 99

🌐 More info: https://merchant.razer.com/v3/


 

 

9. eGHL

 

best payment gateways for businesses in malaysia

 

Founded in March 2013, eGHL offers a secure Internet payment solution that allows usage of both cards and non-cards payments channels to businesses across South East Asia.

Today, eGHL is running in five countries, connecting payments in over 48 currencies. eGHL also complies with Malaysia’s Financial Services Act 2013 & is regulated as the non-bank acquirer with the Central Bank of Malaysia. It’s fairly simple to integrate eGHL and start accepting payments for all types of e-commerce shopping cart application software. 


  1. Setup Fee: RM499 (e-GHL Starter Package) , RM599 (e-GHL Small Business Package)
  2. Payout Fee: RM900 (one-time fee) for credit card gateway, enforced by banks. Can be waived on a case-per-case basis, depending on the nature of the business.
  3. Payout Time: Weekly
  4. Transaction Fee: 
    • e-GHL Starter Package – 2.8% for Visa, MasterCard transaction
    • e-GHL Small Business Package – 2.5% for Visa, MasterCard transaction
    • Direct Debit charge: 
      • FPX, Maybank2u, RHB Click and Affin Online *2.8% or *RM0.70
      • CIMB Clicks *2.8% or *RM0.95 (Whichever higher)
  1. Annual Fee:
    • RM 25.00 for transaction volume less than RM 15,000 per month
    • Waived if monthly volume exceed RM 15,000

🌐 More info: https://e-ghl.com/v2/ 


 

 

10. Maybank2UPay (m2upay)

 

Maybank2u Pay

 

Maybank2u Pay is an online debit payment gateway solution for your business. Your customers can pay for purchases instantly and securely via Maybank Current or Saving account.

Maybank’s reliable reputation as a bank makes the Maybank2u Pay a great option to utilize a secure online payment system for any of your business needs.


  1. Setup Fee: None
  2. Payout Fee: None
  3. Payout Time: Next Day (excluding Friday, Saturday, Sunday and holidays)
  4. Transaction Fee: RM0.50 + GST
  5. Annual Fee: None

🌐 More info: https://m2upay.maybank2u.com.my/


 

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