Top 10 Best Payment Gateways in Malaysia

Get complete information on the best payment gateway service providers in Malaysia.

Top-10-Payment-Gateways-Devathon

Top 10 payment gateways you should choose for your

E-Commerce store in Malaysia?

Payment GatewayMOLPayeGHLPayPaliPay88BillplzMaybank2u Pay2CheckoutWorldpay2C2Pkiple
Setup FeePremium – RM400

Lite – RM499

Starter – RM 399

Small Biz – RM599

FreeSME – RM 488

Startup – 488

FreeFreeFreeFreeRM 500RM 300
Annual feePremium – RM 499

Lite – Zero Fee Lifetime

Starter – 1st year waived
2nd year onwards RM 399Small Biz – 1st year waived
2nd year onwards waive if
transaction volume > RM60000 / year)
FreeSME – RM 500

Startup – Zero Fee Lifetime

FreeFreeFreeFree – Pay as you go Plan or

Monthly subscription plan at
£19.95 / month

RM 500RM 500
Commission per transactionPremium – 3%

Lite – 3.8%

Starter – 2.8%

Small Biz – 2.5%

Domestic
3.9% + RM2.00Cross border
4.4% + Fixed fee based
on the currency received
SME – 2.9%

Startup – 3.5%

RM 1.50
per
transaction
RM0.50 + GST3.9 % + $0.45 USD

1.5% cross-border fee

2.75% + £0.202.5% – 3%
per transaction
for credit cardRM1.50 flat rate
for bank transfers
2.5% – 3%
per transaction
for credit cardRM1 – RM1.50 flat rate
for bank transfers
Payment methods acceptedVisa, MasterCard Credit/Debit Card

Malaysia Online Bank Transfer
Alliance Online, Am Online, CIMB Clicks,
EON Online, Hong Leong Online,
Maybank2u, RHB Online, FPX

Other Payment Methods
Razer Cash at 7-Eleven, Razer ATM

Visa, MasterCard Credit/Debit Card

Malaysia Online Bank Transfer
Maybank2U, CIMB Clicks, RHB Online,
HL Online, Alliance Online, PbeBank,
Ambank, Bank Islam, UOB, Affin Online,
Bank Rakyat, Bank Muamalat, OCBC,
Standard Chartered, KFH

Other Country Debit

Credit/Debit Card
Visa, MasterCard, Discover
American ExpressMalaysia Bank Transfer
Visa, MasterCard Credit/Debit Card

Malaysia Online Bank Transfer
Alliance Online, Am Online,
CIMB Clicks, EON Online, Hong
Leong Online, RHB Online, FPX

Other Payment Methods
PayPal, Boost wallet, Grabpay
TouchnGo pay, Vcash Wallet
KipplePay

Visa, MasterCard Credit/Debit Card

Malaysia Online Bank Transfer
Alliance Online, Am Online, CIMB Clicks,
EON Online, Hong Leong Online,
Maybank2u, RHB Online, FPX

Visa, MasterCard
Credit/Debit CardMalaysia Online Bank Transfer
Maybank2u only
All major
Credit/Debit cardsPayPal and other
major walletsMalaysia Bank Transfer
Credit/Debit Card
Visa, MasterCard, Discover
American ExpressMalaysia Bank TransferOther Payment Method
Contactless, Wallet Galore,
Apply Pay, Amazon pay
Visa, MasterCard
Credit/Debit CardMalaysia Online Bank Transfer
Alliance Online, Am Online
CIMB Clicks, EON Online
Hong Leong Online, FP
Maybank2u, RHB Online
Visa, MasterCard
Credit/Debit CardMalaysia Online Bank Transfer
Alliance Online, Am Online
CIMB Clicks, EON Online
Hong Leong Online, FP
Maybank2u, RHB Online
Fraud & Risk managementYesYesYesAdvancedAverageAdvancedYesYesYesYes
Accepted CurrenciesRM OnlyRM Only24 Currencies (USD, RM,
Euros, GBP, Yen, SGD
and more currencies)
RM Only
(USD and others
currencies are supported
in iPay88 multicurrency gateway)
RM OnlyRM Only12 International
Currencies
Up to 120
Currencies
RM (MYR), US,
Singapore,
Hong Kong $,
Thailand
RM (MYR)
Set up typeOnlineOnlineOnlineOnlineOnlineOnlineOnlineOnlineOnlineOnline
Onboarding & Approvals time7 – 14 working days
(for internet bank transfer)1 to 2 months
(for credit card gateway)
7 – 14
working
days
Immediate7 – 14 working days
(for internet bank transfer)1 to 2 months
(for credit card gateway)
2 weeks1 to 2 weeks24-48 hours5 working days1-2 weeks2-3 weeks
Recurring BillingYesYesYesYesYesYesYesYesYesNo
Charges on RefundsNo extra chargeRM 0.50 per transactionNo extra chargeNo extra chargeNo extra chargeNo extra chargeNo extra chargeNo extra chargeMinorNo extra charge
SDK StacksCurl, Ruby, Java, Python, Php, C#, NodejsDocker, Java (Gradle)
Java (Maven), JavaScript
PHP, Python
Java, .net, php, python, node, rubynode, java, phpC#, Go, Php, JavaScript, RubyJava, JavaScript, NodeJs, PhpJava, Ruby, .net, C#, Pythonphp, java, ruby, .net,Ruby, Java, Python, PhpPhp, Java, Nodejs
Settlement timeFREE for Premium

RM2 per settlement
for LITE

Weekly Transfer to
Bank Account

Weekly Transfer to Bank Account.Payment into PayPal Account Instantly.Weekly Transfer to Bank AccountNext day (T+1)Next day (T+1)Weekly – Transfer to Bank Account4 weeks
Transfer to
Bank Account
Weekly – Transfer to Bank AccountT+1/T+2
Payouts supportYesYesYesYesYesNoYesYesNoNo
Split paymentsYesNoYesYesNoNoYesYesNoNo

1. Setup Fee

Payment GatewaySetup Fee
MOLPayPremium – RM400

Lite – RM499

eGHLStarter – RM 399

Small Biz – RM599

PayPalFree
iPay88SME – RM 488

Startup – 488

BillplzFree
Maybank2u PayFree
2CheckoutFree
WorldpayFree
2C2PRM 500
kipleRM 300

2. Annual fee

Payment GatewayAnnual fee
MOLPayPremium – RM 499

Lite – Zero Fee Lifetime

eGHLStarter – 1st year waived
2nd year onwards RM 399Small Biz – 1st year waived
2nd year onwards waive if
transaction volume > RM60000 / year)
PayPalFree
iPay88SME – RM 500

Startup – Zero Fee Lifetime

BillplzFree
Maybank2u PayFree
2CheckoutFree
WorldpayFree – Pay as you go Plan or

Monthly subscription plan at
£19.95 / month

2C2PRM 500
kipleRM 500

3. Commission per transaction

Payment GatewayCommission per transaction
MOLPayPremium – 3%

Lite – 3.8%

eGHLStarter – 2.8%

Small Biz – 2.5%

PayPalDomestic
3.9% + RM2.00Cross border
4.4% + Fixed fee based
on the currency received
iPay88SME – 2.9%

Startup – 3.5%

BillplzRM 1.50
per
transaction
Maybank2u PayRM0.50 + GST
2Checkout3.9 % + $0.45 USD

1.5% cross-border fee

Worldpay2.75% + £0.20
2C2P2.5% – 3%
per transaction
for credit cardRM1.50 flat rate
for bank transfers
kiple2.5% – 3%
per transaction
for credit cardRM1 – RM1.50 flat rate
for bank transfers

4. Payment methods accepted

Payment GatewayPayment methods accepted
MOLPayVisa, MasterCard Credit/Debit Card

Malaysia Online Bank Transfer
Alliance Online, Am Online, CIMB Clicks,
EON Online, Hong Leong Online,
Maybank2u, RHB Online, FPX

Other Payment Methods
Razer Cash at 7-Eleven, Razer ATM

eGHLVisa, MasterCard Credit/Debit Card

Malaysia Online Bank Transfer
Maybank2U, CIMB Clicks, RHB Online,
HL Online, Alliance Online, PbeBank,
Ambank, Bank Islam, UOB, Affin Online,
Bank Rakyat, Bank Muamalat, OCBC,
Standard Chartered, KFH

Other Country Debit

PayPalCredit/Debit Card
Visa, MasterCard, Discover
American ExpressMalaysia Bank Transfer
iPay88Visa, MasterCard Credit/Debit Card

Malaysia Online Bank Transfer
Alliance Online, Am Online,
CIMB Clicks, EON Online, Hong
Leong Online, RHB Online, FPX

Other Payment Methods
PayPal, Boost wallet, Grabpay
TouchnGo pay, Vcash Wallet
KipplePay

BillplzVisa, MasterCard Credit/Debit Card

Malaysia Online Bank Transfer
Alliance Online, Am Online, CIMB Clicks,
EON Online, Hong Leong Online,
Maybank2u, RHB Online, FPX

Maybank2u PayVisa, MasterCard
Credit/Debit CardMalaysia Online Bank Transfer
Maybank2u only
2CheckoutAll major
Credit/Debit cardsPayPal and other
major walletsMalaysia Bank Transfer
WorldpayCredit/Debit Card
Visa, MasterCard, Discover
American ExpressMalaysia Bank TransferOther Payment Method
Contactless, Wallet Galore,
Apply Pay, Amazon pay
2C2PVisa, MasterCard
Credit/Debit CardMalaysia Online Bank Transfer
Alliance Online, Am Online
CIMB Clicks, EON Online
Hong Leong Online, FP
Maybank2u, RHB Online
kipleVisa, MasterCard
Credit/Debit CardMalaysia Online Bank Transfer
Alliance Online, Am Online
CIMB Clicks, EON Online
Hong Leong Online, FP
Maybank2u, RHB Online

5. Fraud & Risk management

Payment GatewayFraud & Risk management
MOLPayYes
eGHLYes
PayPalYes
iPay88Advanced
BillplzAverage
Maybank2u PayAdvanced
2CheckoutYes
WorldpayYes
2C2PYes
kipleYes

6. Accepted currencies

Payment GatewayAccepted Currencies
MOLPayRM Only
eGHLRM Only
PayPal24 Currencies (USD, RM,
Euros, GBP, Yen, SGD
and more currencies)
iPay88RM Only
(USD and others
currencies are supported
in iPay88 multicurrencygateway)
BillplzRM Only
Maybank2u PayRM Only
2Checkout12 International
Currencies
WorldpayUp to 120
Currencies
2C2PRM (MYR), US,
Singapore,
Hong Kong $,
Thailand
kipleRM (MYR)

7. Set up type

Payment GatewaySet up type
MOLPayOnline
eGHLOnline
PayPalOnline
iPay88Online
BillplzOnline
Maybank2u PayOnline
2CheckoutOnline
WorldpayOnline
2C2POnline
kipleOnline

8. Onboarding & Approvals time

Payment GatewayOnboarding & Approvals time
MOLPay7 – 14 working days
(for internet bank transfer)1 to 2 months
(for credit card gateway)
eGHL7 – 14
working
days
PayPalImmediate
iPay887 – 14 working days
(for internet bank transfer)1 to 2 months
(for credit card gateway)
Billplz2 weeks
Maybank2u Pay1 to 2 weeks
2Checkout24-48 hours
Worldpay5 working days
2C2P1-2 weeks
kiple2-3 weeks

9. Recurring Billing

Payment GatewayRecurring Billing
MOLPayYes
eGHLYes
PayPalYes
iPay88Yes
BillplzYes
Maybank2u PayYes
2CheckoutYes
WorldpayYes
2C2PYes
kipleNo

10. Charges on Refunds

Payment GatewayCharges on Refunds
MOLPayNo extra charge
eGHLRM 0.50 per transaction
PayPalNo extra charge
iPay88No extra charge
BillplzNo extra charge
Maybank2u PayNo extra charge
2CheckoutNo extra charge
WorldpayNo extra charge
2C2PMinor
kipleNo extra charge

11. SDK Stacks

Payment GatewaySDK Stacks
MOLPayCurl, Ruby, Java, Python, PHP, C#, Nodejs
eGHLDocker, Java (Gradle)
Java (Maven), JavaScript
PHP, Python
PayPalJava, .net, PHP, python, node, ruby
iPay88node, java, PHP
BillplzC#, Go, PHP, JavaScript, Ruby
Maybank2u PayJava, JavaScript, NodeJs,PHP
2CheckoutJava, Ruby, .net, C#, Python
WorldpayPHP, java, ruby, .net,
2C2PRuby, Java, Python, PHP
kiplePHP, Java, Nodejs

12. Settlement time

Payment GatewaySettlement time
MOLPayFREE for Premium

RM2 per settlement
for LITE

Weekly Transfer to
Bank Account

eGHLWeekly Transfer to Bank Account.
PayPalPayment into PayPal Account Instantly.
iPay88Weekly Transfer to Bank Account
BillplzNext day (T+1)
Maybank2u PayNext day (T+1)
2CheckoutWeekly – Transfer to Bank Account
Worldpay4 weeks
Transfer to
Bank Account
2C2PWeekly – Transfer to Bank Account
kipleT+1/T+2

13. Payouts support

Payment GatewayPayouts support
MOLPayYes
eGHLYes
PayPalYes
iPay88Yes
BillplzYes
Maybank2u PayNo
2CheckoutYes
WorldpayYes
2C2PNo
kipleNo

14. Split payments

Payment GatewaySplit payments
MOLPayYes
eGHLNo
PayPalYes
iPay88Yes
BillplzNo
Maybank2u PayNo
2CheckoutYes
WorldpayYes
2C2PNo
kipleNo

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Choosing the best Payment Gateway provider in Malaysia

Choosing the best payment gateway provider for your eCommerce website is a tedious process. While choosing, you should ensure that customer payment experience is smooth, fast and secure. This helps to increase trust among the customers and come back to purchase other products or services in the future.

Here are six factors to consider before selecting the payment gateway:

Government-Regulations

Government Regulations

Malaysian Payment Gateway needs to be compliant with Malaysia's Financial Services Act 2013 & must be regulated as Online Payment Switching Gateway by Central Bank of Malaysia (Bank Negara Malaysia - BNM) underpayment system act in 2006. The gateway with BANK NEGARA approval is, of course, qualified, verified, trusted, and is serious about business.

Multi-Currency-And-International Usage

Multi-currency and International usage

If you want your business to grow globally, you should see if it caters to customers all over the world. This means that the payment gateway that you are choosing should support multi-currency transactions. There are many payment gateways in Malaysia that give customers an opportunity to pay in international currencies.

Payment-And-Customer Support

Payment and customer support

When choosing a payment gateway, you will generally encounter different fees that vary from one company to another. Here are some of the types of fees that usually incur: Transaction fee, setup fee, and annual fee. Besides, the Merchant support team should be accessible at all times and they should answer all the enquiries with minimum turnaround time.

Required-Documentation

Required Documentation

Comprehensive documentation guides and steps make customization onto your site simple and easy. Easy to understand and developer-friendly documents also make the payment gateway integration process on any platform more robust. A platform that is agile, supports 100% automated onboarding and requires KYC and other usual verification documents should be chosen.

Safety-&-Security-Features

Safety & Security Features

The payment gateway should support the highest security standards imposed by Malaysian central banks and needs to be compliant with the PCI Data Security Standard (PCI-DSS) Level 1 to ensure that all transactions are safeguarded. 3D-Secure is an added layer of security feature required for Internet transactions that gives an extra layer of assurance.

Mobile-App-And-CMS-Support

Mobile App and CMS Support

Always consider the fact that the payment gateway can be integrated with Malaysian E-Commerce CMS platforms such as WooCommerce, Shopify, Opencart, Prestashop, and Magento. Few Malaysian payment gateways have an optimized cross-platform mobile application payment kit which is an added advantage as the need for mobile app payment gateway integration is becoming more crucial.

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