What is a payment gateway? 

Payment Gateway Malaysia is a service used by the payment merchant that allows businesses to securely process transactions from the customers. When a customer makes a purchase on an e-commerce website, the online gateway payment processes the transaction by communicating with the customer’s bank and the merchant’s payment processor, and then sending back a confirmation or a decline message to the merchant’s website.

The payment gateways encrypts the sensitive information, such as credit card numbers and check the customer has enough money in their account to cover the purchase. Payment gateways are a crucial part of electronic commerce infrastructure, allowing merchants and customers to safely conduct transactions online.

Best Payment Gateway malaysia List

Here is a list of the top gateway for online payment in Malaysia:

  1. Senang Pay
  2. Billplz
  3. eGHL
  4. iPay88
  5. Stripe

Factors in Choosing a Payment Gateway

When comparing gateway online payment services providers in Malaysia, keep the following five things in mind:

  1. Payment Method
    A payment method is a way for customers to pay for  the services. There are different types of payment methods, including:

    • Credit/debit cards :
      Customers can use a credit or debit card provided by a financial institution to make payments utilising.
    • Online banking :
      This method allows customers to make payments using online banking services offered by banks in Malaysia such as Affin Bank, AmBank, Bank Islam, Bank Rakyat, Bank Muamalat, CIMB Bank, Hong Leong Bank, Maybank, OCBC Bank, Public Bank, RHB, Standard Chartered,UOB and other.
    • E-wallets:
      This is a digital version of a physical wallet and enables customers to make payments. The most popular e-wallets in malaysia include Touch ‘n Go eWallet, Boost, GrabPay, shopee pay and other.
    • Buy Now Pay Later(BNPL):
      Buy Now Pay Later (BNPL) is a type of installment plan offered by some retailers and e-commerce sites, which allows customers to make a purchase without paying for it upfront. Many retailers and service providers offer credit card installment plans, which allow customers to pay for their purchase in smaller, scheduled payments over time using their credit card. The example of an installment which is switch installment, iphone installment, laptop installment plan and other.
  2. Fees
    The customers must evaluate each provider’s transaction fees and other costs. Following is a list of the several types of fees that often include:

    • Transaction fee (MDR) :
      Transaction fee, also known as Merchant Discount Rate (MDR), is a fee charged by payment gateway malaysia on every successful transaction. In general, it’s common for the merchant charge rate for each transaction to range from 1% to 4%, although it can be higher or lower depending.
    • Setup fee :
      A setup fee, also known as an activation fee, is a one-time fee that some banks may charge merchants for setting up and activating a merchant account.
    • Annual fee :
      It’s the yearly payment to keep the account active. This annual fee also will include the cost of maintaining the merchant account.
  3. Application Approval Time
    To ensure that the website can go live in the anticipated time frame, the application clearance time is crucial. It can take a few days to a few weeks to submit an application for a payment gateway malaysia account.
  4. Secure payment processing
    PCI-DSS (Payment Card Industry Data Security Standards) is a set of security standards established by the major credit card companies (Visa, Mastercard, American Express, etc.) to protect against credit card fraud.By choosing a payment gateway provider that offers secure payment processing with PCI-DSS compliance, merchants can ensure that they are following industry best practices for protecting sensitive customer data, and reducing their risk of credit card fraud.

Malaysia payment gateway comparison

Payment Gateway Malaysia Comparison in detail:

Provider Senang Pay Biliplz eGHL iPay88 Stripe
Setup Fee Free Basic Package :
Free

Basic Package :
Free
RM 499 SOHO Plan:
RM 488

SME Plan:
RM 488
Free
Annual Fee Starter Package :
RM300 per year

Advance Package :
RM450

Special Package :
RM1500
Basic Package :
Free

Standard Package :
Rm5300
RM25 for transaction volume less than RM 15,000 per/month; waived if monthly volume exceed RM15,000 SOHO Plan :
Waived

SME Plan:
RM 500
(Waived from second year onwards)
Free
Credit/ Debit Card Starter Package :
Not Available

Advance Package (Mastercard / Visa) :
2.5% per transaction (Local)
2.7% per transaction (Foreign)

Special Package (Mastercard / Visa) :
1.8% per transaction(Local)
2.5% per transaction (Foriegn)
Basic Package (Mastercard / Visa) :
2.2% per transaction (Local)

Standard Package (Mastercard / Visa) :
1.8% per transaction (Local)

Foreign-issued(Mastercard / Visa) :
Contact [email protected]
2.5% MYR per processing (+ 1 – 2% non-MYR processing, + MYR 0.50 for ticket sizeless than MYR 40.00) SOHO Plan :
Not available

SME Plan :
>3.0% per transaction (Visa/Mastercard Credit card)
2.5% per transaction (Debit card)
2.7% per transaction (UnionPay Credit/Debit card)
3.0%+ RM1.00 per successful card charge +2% if currency conversion is required
Internet Banking (FPX) Starter Package :
Not available

Advance Package :
1.5% per transaction

Special Package :
1.5% per transaction
Basic Package :
RM1.00 per transaction

Standard Package :
RM0.5 Per transaction
2.8% or Minimum RM0.60 per transaction SOHO Plan:
3.0% per transaction or minimum *RM 0.60 whichever is higher for onlinebanking (e-debit)

SME Plan:
2.7% per transaction or minimum *RM 0.60 whichever is higher for onlinebanking (e-debit)
3.0%+ RM 1.00 per paid transaction
*Fees exclude SST.
E-wallet Starter/ Advance / Special Package :
1.5% per transaction (ShoppeePay, TouchnGo pay,GrabPay, Boost)
Maybank QRPay (Basic / Standard Package):
1% per transaction

ShopeePay (Basic / Standard Package) :
1.1% per transaction

TouchnGoPay (Basic / Standard Package) :
1.2% per transaction

GrabPay (Basic / Standard Package) :
1.2% per transaction

Boost (Basic / Standard Package) :
1.4% per transaction
GrabPay,Touch ‘n Go, Boost, MCash or ShopeePay :
1.5% per transaction

Maybank2u:
1.0% per transaction
SOHO Plan :
1.0% per transaction (Boost wallet)
1.5% per transaction (GrabPay, Touch ‘n Go)
2.0% per transaction (KipplePay)
SME Plan :
1.0% per transaction (Boost wallet)
1.2% per transaction (VCash Wallet)
1.5% per transaction (GrabPay, Touch ‘n Go)
2.0% per transaction (Kipple Pay)
Alipay
2.9% + RM1.00 per transaction

GrabPay
3.0% per transaction
BuyNow Pay Later(BNPL) Starter Package:
Not available

Advance/ Special Package (MyIOU) :
2 payment plan – 4% for total payment
3 payment plan – 5% for total payment
6 payment plan – 8% for total payment
Not Available Pay Later By Grab/ Visa Instalment / Atome Pay Later By Grab/ Atome / MobyPAY Not Available
Supported Currencies MYR
* USD, EUR, IDR, THB and more Refer to Senang Pay Stripe Package
MYR MYR
(support multi currencies)
MYR International Currencies
Minimum Settlement Min RM100 Min RM0.01 No Minimum withdrawal amount RM100 RM5
Application Approval Time 1-14 day Around 14 days Credit Card:
within 2 months

Online Banking:
7 – 14 working days
Internet Bank Transfer :
Within 14 working days

Credit Card Gateway:
2 to 3 months
Immediate

*Please visit the official website for the most recent updates as this table is solely for reference.

 

Senang Pay

Senang Pay payment gatway transaction fee detail

*Source on the Senang Pay Website

Senanag Pay is one of the-payment gateway malaysia

SenangPay is a payment gateway service provider in Malaysia and managed by Simplepay Gateway Sdn Bhd. They support a wide range of payment methods, including credit/debit cards, FPX payment, and e-wallets.

Features:

  • Easy integration with the most popular e-commerce platforms
  • Secure payment processing with PCI-DSS compliance
  • Low transaction fees
  • Multi-Currency support
  • Support Installment plan

SenangPay Review

One of the great payment gateway that I met in Malaysia. Quick response and efficiency help out to solve my problem.
*From the Senang pay google review

Checking the senangpay pricing : https://senangpay.my/fee-costing-features/
Address : 19, Jalan Pengaturcara U1/51a, Kawasan Perindustrian Temasya, 40150 Shah Alam, Selangor
Contact Detail : 03-2771 2707
Operating Hours : Monday- Friday (9:00am – 5:30pm)

Click Here to Register

Billplz

Billplz membership plan detail
*Source on the Billplz Website
Billplz is one of the-payment gateway malaysia

According to statistics from Bank Negara, Billplz is one of the most popular online gateway payment options in Malaysia because of its low transaction fees and fast settlement time. They support multiple online banking options ,credit/debit cards and e-wallets.

Features:

  • Easy integration with the most popular e-commerce platforms
  • Secure payment processing with PCI-DSS compliance
  • Instant notification and auto-update on payment status
  • Low transaction fees
  • Friendly user interface
  • Less withdrawal amount

Billplz Review

Explanations are good and very clear and good assist regarding the products and subscriptions

Checking the Billplz pricing : https://www.billplz.com/pricing
Address : K03-11-13, Level 11, Tower 3 UOA Business Park, 40150 Shah Alam, Selangor
Contact Detail : 03-5626 0056
Operating Hours : Monday- Friday (9:00am – 5:00pm)

eGHL

eGHL payment gateway accept payments detail
*Source on the eGHL Website

eGHL is one of the-payment gateway malaysia

eGHL (Electronic Global Holdings Limited) is a product of eGHL Systems Berhad, a company that provides payment solutions for e-commerce in Southeast Asia. eGHL combines multiple well-known payment channels in Southeast Asia into one integrated payment platform, which allows merchants to easily accept payments from customers through various methods including credit and debit cards, online banking and e-wallets.

Features:

  • Easy integration with the most popular e-commerce platforms
  • Secure payment processing with PCI-DSS compliance
  • Instant notification and auto update on payment status
  • Multi-Currency support
  • Support Installment plan
  • Less withdrawal amount

Checking the eGHL pricing : https://www.ghl.com/e-commerce
Address : C-G-15, Block C, Jalan Dataran SD1, Dataran SD, PJU 9, Bandar Sri Damansara, 52200 Kuala Lumpur, Malaysia.
Contact Detail : +603 6286 5222
Operating Hours : Monday- Friday (9:00am – 6:00pm)

iPay88

The payment method support by the iPay 88 payment gateway
*Source on the iPay88 Website
ipay88 is one of the-payment gateway malaysia

iPay88 is a leading payment gateway provider in South East Asia, owned by The Mobile88 Group of Companies. They provide secure, reliable, and efficient payment solutions for online merchants across the region, including Malaysia, Singapore, Indonesia, and Philippines.The Ipay88 fee is an affordable rate. It offers a wide range of payment options including credit/debit cards, online banking, and e-wallets.

Features:

  • Easy integration with most popular e-commerce platforms
  • Secure payment processing with PCI-DSS compliance
  • Instant notification and auto update on payment status
  • Support Installment plan

iPay 88 Review

Our experience with iPay88 has been very good and seamless so far. Hardly any major tech issues and if there is any, it is dealt with swiftly.

Checking the iPay88 pricing : https://www.ipay88.com/
Address : Suite 2B-20-1, 20th Floor, Block 2B, Plaza Sentral, Jalan Stesen Sentral 5, 50470 Wilayah Persekutuan, Federal Territory of Kuala Lumpur
Contact Detail : 03-2261 4668
Operating Hours : Monday- Friday (9:00am – 6:00pm)

Stripe

Stripe-pricing-detail
*Source on the Stripe Website

Stripe is one of the-payment gateway malaysia

Stripe is an American-based company that provides an international payment gateways service. Stripe allows businesses to easily accept payments from customers around the world via credit and debit cards, bank transfers, and other digital wallets. They allow merchants to accept payments from customers via a variety of methods, including credit and debit cards, bank transfers, and other digital wallets.

Features:

  • Easy integration with the most popular e-commerce platforms
  • Secure payment processing with PCI-DSS compliance
  • Instant notification and auto update on payment status
  • Multi-Currency support
  • Instant settlement

Checking the Stripe pricing : https://stripe.com/en-my/pricing

Summary malaysia payment gateway comparison

The image show the list of payment gateway comparison malaysia in 2023

In conclusion, choosing a payment gateway is not as easy as it seems. Online payment and online banking have indeed transformed the way consumers shop, buy, and pay, as well as the way businesses conduct their transactions. These technologies have made it easier and more convenient for both consumers and businesses to make financial transactions, and have also increased the security and efficiency of these transactions.

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