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Online payment gateways allow merchants to conveniently accept payments via debit cards, credit cards, FPX (Financial Process Exchange) bank transfers, and even e-wallets. Today, online payment gateways are not just limited to online stores, but also offline retail outlets. Here’s a list to compare the best online payment gateway service providers in Malaysia:
Top 10+ Best Online Payment Gateway Services in Malaysia
- eGHL
- iPay88
- Paypal
- Stripe
- senangPay
- M2UPay
- Razer Merchant Services (formerly MOLPay)
- Billplz
- Payhalal
- Kiple
- Adyen
- 2Checkout
- Braintree
- PayDollar
Check out the full list of online payment gateway in Malaysia here.
Comparison of Online Payment Gateways in Malaysia
Update (2022): We have compiled a table for you to easily compare the popular payment gateway service providers in Malaysia.
While iPay88, Razer Merchant Services, eGHL are the “big 3” in Malaysia, you might want to consider other options too especially if you are just setting up a new online business without much volume initially.
For new online merchants, look for those who charge zero setup fees and low annual fees, and obviously reasonable transaction fees (a.k.a. merchant discount rate) by payment method – bank transfer, credit card, and e-wallet.
Check the table below and find the best provider and package for your business. Besides Stripe and PayPal, all the other brands listed in this table are local payment gateway service providers.
| Provider | Package | Setup Fees | Annual Fees | Bank Transfer | Credit Card | e-Wallet |
|---|---|---|---|---|---|---|
| iPay88 | SOHO | RM0 to RM488 | RM0 | 3% or RM0.60 | N/A | 1% to 2% |
| iPay88 | SME | RM488 | RM500 | 2.7% or RM0.60 | 2.5% to 2.7% | 1% to 2% |
| Razer Merchant Services | Lite | RM499 | RM99 | 3.8% or RM0.60 | N/A | N/A |
| Razer Merchant Services | Premium | RM200 to RM400 | RM249 to RM499 | 2.65% or RM0.60 | 2.65% | N/A |
| eGHL | 499 | RM499 | RM0 to RM25 | 2.5% or RM0.50 | 2.5%++ | N/A |
| senangPay | Basic | RM0 | RM300 | RM1 | 2.20% | 1.5% or lower |
| senangPay | Advance | RM0 | RM450 | RM0.50 | 1.8% or lower | 1.5% or lower |
| senangPay | Special | RM0 | RM1,500 | TBC | 1.8% or lower | 1.5% or lower |
| Billplz | Basic | RM0 | RM0 | 1.50% | 2.50% | N/A |
| Billplz | Standard | RM0 | RM2,120 | 1.50% | 2.50% | 1.50% |
| Billplz | Enterprise | RM0 | Custom | 1.50% | 1.80% | 1.50% |
| PayHalal | Basic | RM0 | RM0 | 1.6% or RM0.60 | N/A | 1.50% |
| PayHalal | microSME | RM500 | RM120 | 1.8% or RM0.80 | 2.20% | 1.50% |
| PayHalal | SME365 | RM500 | RM1,800 | 1.68% or RM0.60 | 1.80% | 1.50% |
| Stripe | Integrated | RM0 | RM0 | 3% + RM1 | 3% + RM1 | 3% (GrabPay) |
| PayPal | Merchant | RM0 | RM0 | N/A | 3.9% + RM2 | N/A |
Notes:
- All information above is compiled in May 2022, refer to the service providers directly on final info and rates.
- Foreign Visa or Mastercard is subject to higher fees, especially local payment gateways.
- If you are using Shopify, an additional 0.3% transaction fee is imposed by Shopify.
- You might want to consider other features like multi-currencies, BNPL, etc.
eGHL
eGHL is an Internet payment service provider that is wholly owned by GHL Systems Berhad Group. Their history stretches long before the year 2000 and today, they are running in 5 countries, processing payments in over 48 currencies.
Setup Fees: RM499 one-time fee
Annual Fees: RM25 for transaction volume less than RM 15,000 per/month; waived if monthly volume exceed RM15,000
Transaction Fees:
- Cards: 2.5% MYR per processing (+ 1% non-MYR processing, + MYR 0.50 for ticket size less than MYR 40.00)
- Non-Card (FPX): 2.5% or RM 0.50 (Whichever is higher)
- Click here to enquire for more information
Country of origin: Malaysia
Accepted Currencies: RM (MYR) (support multi currencies)
Website: https://e-ghl.com/
iPay88
iPay88 is a leading regional Payment Gateway Provider in South East Asia, owned by The Mobile88 Group of Companies. iPay88 offers merchants comprehensive online payment options such as credit/debit cards, bank transfers and alternative online payments.
Setup Fees: RM488 (Waived RM 900 processing fee imposed by bank for credit card gateway)
Annual Fees: RM 500 (Waived from 2nd year onwards)
Transaction Fees:
- Cards: 2.0% + 6% GST per transaction
- Non-Card (FPX): MYR 1.00 + 6% GST per transaction
- Click here to enquire for more information
Country of origin: Malaysia
Accepted Currencies: RM(MYR) (support multi currencies)
Website: https://www.ipay88.com/
PayPal
Originating from the United States, PayPal is an electronic commerce company that facilitates payments between parties through online transfers. Available in more than 200 markets around the world, the PayPal platform enables consumers and merchants to receive money in more than 100 currencies, withdraw funds in 56 currencies and hold balances in their PayPal accounts in 25 currencies.
Setup Fees: No setup fee
Annual Fees: No annual fee
Transaction Fees:
- Malaysia: 3.9% + 2.00 MYR
- Overseas: 4.4% + 2.00 MYR
- Click here for updated pricing
Country of origin: United States
Accepted Currencies: Supports multi-currencies
Website: https://www.paypal.com/my/home
Stripe
Stripe is a technology company that builds economic infrastructure for the internet. Millions of companies in over 120 countries use Stripe to start, run, and scale their businesses.
Setup Fees: No setup fee
Annual Fees: No annual fee
Transaction Fees: 3% + RM1.00 per successful card charge
Country of origin: United States
Accepted Currencies: Supports multi-currencies
Website: https://stripe.com/en-my
senangPay
senangPay is an Online Payment Gateway that enables merchants to receive and collect payment from customers through Credit Card, Debit Card and Internet Banking (FPX) since the year 2015. senangPay is owned and managed by Simplepay Gateway Sdn. Bhd.
Setup Fees: No Setup Fee
Annual Fees: RM300 (Basic Plan), RM450 (Advanced) & RM1500 (Special Package)
Transaction Fees:
- Credit Card & Debit Card: 2.5%
- Internet Banking: 1.5% or a minimum charge of RM1 whichever is higher
- Click here for updated pricing
Country of origin: Malaysia
Accepted Currencies: RM (MYR), USD, EUR, IDR, THB and more.
Website: https://senangpay.my/
M2UPay
M2UPay offers a range of convenient ways for merchants to accept payment in-store and online. Merchants can apply directly to Maybank with Zero Setup Cost and enjoy competitive transaction fee!
Setup Fees: Zero Setup Cost
Annual Fees: Information available upon inquiry
Transaction Fees: Information available upon inquiry, click here to inquire
Country of origin: Malaysia
Accepted Currencies: RM (MYR)
Website: https://m2upay.maybank2u.com.my/
Razer Merchant Services (formerly MOLPay)
Razer Merchant Services provides global credit and debit card processing services, including VISA and Mastercard, at highly competitive rates in Southeast Asia. They are also the region’s leading online payment gateway that serves widely-used brands such as Grab, Expedia, Starbucks, Lazada, Uniqlo, Sephora, and more.
Setup Fees: RM499
Annual Fees: RM99
Transaction Fees: 3.8% per transaction or minimum RM 0.60 whichever is higher for online banking (e-debit) and Razer’s 7-11 cash channel, click here for updated pricing
Country of origin: Malaysia
Accepted Currencies: RM (MYR)
Website: https://merchant.razer.com/
Billplz
Billplz is a simple cash solution that offers businesses and companies to send bills and collect payments in real-time. Billplz is also one of the preferred online payment methods in Malaysia based on Bank Negara’s statistics.
Setup Fees: Zero Setup Fee
Annual Fees: Free (Basic Plan), RM150 per month (Standard 30) & RM1800 per year (Standard 365)
Transaction Fees:
- Basic Plan：RM1.50 per online banking transaction/ not applicable to card transactions.
- Standard 30: RM1.00 per online banking transaction/ 2.5% or lower for card transactions/ 3.2% per PayPal transaction/ 1.5% or lower per e-wallet transactions.
- Standard 365: RM0.50 per online banking transaction/ 2.5% or lower for card transactions/ 3.2% per PayPal transaction/ 1.5% or lower per e-wallet transactions.
- Click here for updated pricing
Country of origin: Malaysia
Accepted Currencies: Only accept MYR currency
Website: https://www.billplz.com/
Payhalal
PayHalal is the world’s first Shariah-compliant (Islamic) payment gateway. All transactions made to or from their merchants and customers are all from riba (interest), maysir (gambling), and gharar (uncertainty).
Setup Fees:
– Platinum Pro – RM280
– SME Gold – RM280
– Pay Per Use – NA
– Sponsored – NA
Annual Fees:
– Platinum Pro – RM1,200
– SME Gold – RM365
– Pay Per Use – NA
– Sponsored – NA
Transaction Fees:
Platinum Pro
- Credit Card 2.4% / FPX 1.88% or RM0.80 / FPX 2.00% + RM 2.00
SME Gold
- Credit Card 2.6% / FPX(B2C) 2.4% or RM 1.00 / FPX(B2B) 2.4% + RM2.00
Pay Per User
- Credit Card 2.8% + RM1.00 / FPX(B2C) 2.6% + RM1.00 / FPX(B2B) 2.6% + RM2.00
Sponsored
- Max Daily Transaction RM100.00 / Credit Card 3% / FPX RM0.80
For more information on pricing, click here.
Country of origin: Malaysia
Accepted Currencies: MYR, U.S. Dollar, Euro, Japanese Yen, British Pound, and Swiss Franc
Website: https://payhalal.my/
Kiplepay
Kiplepay is the leading cashless campus partner for universities. Aiming to digitise your campus experience with a single platform that unifies education payments and in-campus merchant cashless transactions.
Setup Fees: Information available upon inquiry
Annual Fees: Information available upon inquiry
Transaction Fees: Information available upon inquiry
*For inquiries, please fill up the form on their website at https://kiplepay.com/pages/home or email [email protected] to know more
Country of origin: Malaysia
Accepted Currencies: MYR
Website: https://kiplepay.com/
Adyen
Adyen focuses on building a modern infrastructure directly connected to card networks and local payment methods actress the world. The Adyen network allows merchants to accept payments in a single system, enabling revenue growth online, on mobile and at the point of sales.
Setup Fees: No Setup Fee Required
Annual Fees: NA
Transaction Fees: $0.12 + Payment Method Fee
For more information on pricing, click here.
Country of origin: Suriname
Accepted Currencies: MYR and other major currencies
Website: https://www.adyen.com/
2Checkout
A leading all-in-one monetization platform that allows business to quickly expand internationally and optimise recurring streams across channels.
Setup Fees: No Setup Fee Required
Annual Fees: NA
Transaction Fees:
2SELL
- 3.5% + $0.35 per successful sale
2SUBSCRIBE
- 4.5% + $0.45 per successful sale
2MONETISE
- 6.0% + $0.60 per successful sale
ENTERPRISE
- Custom Pricing
For more information on pricing, click here.
Country of origin: United States
Accepted Currencies: All major currencies
Website: https://www.2checkout.com/
Braintree
Reach more buyers and drive higher conversion with the only payments platform that delivers PayPal, Venmo (in the US), credit and debit cards, and popular digital wallets like Apple Pay and Google Pay in a single, seamless integration.
Setup Fees: None
Annual Fees: None
Transaction Fees: 3.40% + RM 2.00 (+1% for multi-currency transactions) Click here for updated pricing
Country of origin: United States
Accepted Currencies: All major currencies
Website: https://www.braintreepayments.com/my
PayDollar (by AsiaPay)
PayDollar eCommerce service is an integrated payment transaction-processing service that allows your business of size to securely accept credit card and debit payments anytime through different payment channels, at an affordable price in just days. With a single account covering international credit /debit cards, digital wallets, netbanking, pre-paid cards to serve both local and international customers.
Setup Fees: Information available upon inquiry
Annual Fees: Information available upon inquiry
Transaction Fees: Information available upon inquiry, click here to inquire
Country of origin: Hong Kong
Accepted Currencies: All major currencies
Website: https://www.paydollar.com.my/
Bottom Line
There you have it, some of the best online gateway service providers in Malaysia that you use to process payment for your business.
Did we miss anything? Let us know in the comments below!
Feature your business in this article by contacting us here.
