Top 10 Best Payment Gateways in Malaysia
Get complete information on the best payment gateway service providers in Malaysia.
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| Payment Gateway | Razer Merchant Services (RMS) |
eGHL | PayPal | iPay88 | Billplz | Maybank2u Pay | 2Checkout | Worldpay | 2C2P | kiple |
| Setup Fee (RM) |
Lite Plan: RM 499
Premium Plan: RM400 |
Starter – RM 399
Small Biz – RM599 |
Free | SME – RM 488
Startup – 488 |
Free | Free | Free | Free | RM 500 | RM 300 |
| Annual fee (RM) |
Lite Plan: RM 99 (waived for the first year)
Premium Plan: RM 499 |
Starter – 1st year waived 2nd year onwards RM 399Small Biz – 1st year waived 2nd year onwards waive if transaction volume > RM60000 / year) |
Free | SME – RM 500
Startup – Zero Fee Lifetime |
Free | Free | Free | Free – Pay as you go Plan or
Monthly subscription plan at |
RM 500 | RM 500 |
| Commission per transaction | Credit Card
Lite Plan: 3.8% Premium Plan: 2.4%
Online Banking Lite Plan: 3.8% or min. RM 0.60 whichever is higher Premium Plan: 2.4% or min. RM 0.60 whichever is higher
E-wallet Lite Plan: N/A Premium Plan: 1.4% for Grabpay, ShopeePay, Maybank MAE, Touch ‘n Go and 1.6% for Boost |
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 + GST | 3.9 % + $0.45 USD
1.5% cross-border fee |
2.75% + £0.20 | 2.5% – 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 accepted | Visa, Mastercard, Credit/Debit Card
Malaysia Online Bank Transfer – Maybank2u – CIMB Clicks – Hong Leong Connect – Public Bank PBe – RHB Now – Alliance Online – Affin Online – Bank Islam Online – UOB Bank Online – OCBC Bank Online – Standard Chartered Bank Online – AmOnline – I-Rakyat – I-Muamalat – Kuwait Finance House – Bank Simpanan National Online – HSBC Online
Other Payment Methods Razer Cash at 7-Eleven Buy Now Pay Later (BNPL) |
Visa, MasterCard Credit/Debit Card
Malaysia Online Bank Transfer Other Country Debit |
Credit/Debit Card Visa, MasterCard, Discover American ExpressMalaysia Bank Transfer |
Visa, MasterCard Credit/Debit Card
Malaysia Online Bank Transfer Other Payment Methods |
Visa, MasterCard Credit/Debit Card
Malaysia Online Bank Transfer |
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 management | Yes | Yes | Yes | Advanced | Average | Advanced | Yes | Yes | Yes | Yes |
| Accepted Currencies | RM Only | RM Only | 24 Currencies (USD, RM, Euros, GBP, Yen, SGD and more currencies) |
RM Only (USD and others currencies are supported in iPay88 multicurrency gateway) |
RM Only | RM Only | 12 International Currencies |
Up to 120 Currencies |
RM (MYR), US, Singapore, Hong Kong $, Thailand |
RM (MYR) |
| Set up type | Online | Online | Online | Online | Online | Online | Online | Online | Online | Online |
| Onboarding & Approvals time | 3 to 5 working days (for internet bank transfer)
1 to 2 months (for credit card gateway) |
7 – 14 working days |
Immediate | 7 – 14 working days (for internet bank transfer)1 to 2 months (for credit card gateway) |
2 weeks | 1 to 2 weeks | 24-48 hours | 5 working days | 1-2 weeks | 2-3 weeks |
| Recurring Billing | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | No |
| Charges on Refunds | No extra charge | RM 0.50 per transaction | No extra charge | No extra charge | No extra charge | No extra charge | No extra charge | No extra charge | Minor | No extra charge |
| SDK Stacks | Curl, Ruby, Java, Python, Php, C#, Nodejs | Docker, Java (Gradle) Java (Maven), JavaScript PHP, Python |
Java, .net, php, python, node, ruby | node, java, php | C#, Go, Php, JavaScript, Ruby | Java, JavaScript, NodeJs, Php | Java, Ruby, .net, C#, Python | php, java, ruby, .net, | Ruby, Java, Python, Php | Php, Java, Nodejs |
| Settlement time | Lite Plan: RM2 per settlement
Premium Plan: Free
Weekly Transfer to Bank Account |
Weekly Transfer to Bank Account. | Payment into PayPal Account Instantly. | Weekly Transfer to Bank Account | Next day (T+1) | Next day (T+1) | Weekly – Transfer to Bank Account | 4 weeks Transfer to Bank Account |
Weekly – Transfer to Bank Account | T+1/T+2 |
| Payouts support | Yes | Yes | Yes | Yes | Yes | No | Yes | Yes | No | No |
| Split payments | Yes | No | Yes | Yes | No | No | Yes | Yes | No | No |
1. Setup Fee
| Payment Gateway | Setup Fee |
| Razer Merchant Services
(RMS) |
Lite Plan: RM 499
Premium Plan: RM400 |
| eGHL | Starter – RM 399
Small Biz – RM599 |
| PayPal | Free |
| iPay88 | SME – RM 488
Startup – 488 |
| Billplz | Free |
| Maybank2u Pay | Free |
| 2Checkout | Free |
| Worldpay | Free |
| 2C2P | RM 500 |
| kiple | RM 300 |
2. Annual fee
| Payment Gateway | Annual fee |
| Razer Merchant Services
(RMS) |
Lite Plan: RM 99 (waived for the first year)
Premium Plan: RM 499 |
| eGHL | Starter – 1st year waived 2nd year onwards RM 399Small Biz – 1st year waived 2nd year onwards waive if transaction volume > RM60000 / year) |
| PayPal | Free |
| iPay88 | SME – RM 500
Startup – Zero Fee Lifetime |
| Billplz | Free |
| Maybank2u Pay | Free |
| 2Checkout | Free |
| Worldpay | Free – Pay as you go Plan or
Monthly subscription plan at |
| 2C2P | RM 500 |
| kiple | RM 500 |
3. Commission per transaction
| Payment Gateway | Commission per transaction |
| Razer Merchant Services
(RMS) |
Credit Card
Lite Plan: 3.8% Premium Plan: 2.4%
Online Banking Lite Plan: 3.8% or min. RM 0.60 whichever is higher Premium Plan: 2.4% or min. RM 0.60 whichever is higher
E-wallet Lite Plan: N/A Premium Plan: 1.4% for Grabpay, ShopeePay, Maybank MAE, Touch ‘n Go and 1.6% for Boost |
| eGHL | Starter – 2.8%
Small Biz – 2.5% |
| PayPal | Domestic 3.9% + RM2.00Cross border 4.4% + Fixed fee based on the currency received |
| iPay88 | SME – 2.9%
Startup – 3.5% |
| Billplz | RM 1.50 per transaction |
| Maybank2u Pay | RM0.50 + GST |
| 2Checkout | 3.9 % + $0.45 USD
1.5% cross-border fee |
| Worldpay | 2.75% + £0.20 |
| 2C2P | 2.5% – 3% per transaction for credit cardRM1.50 flat rate for bank transfers |
| kiple | 2.5% – 3% per transaction for credit cardRM1 – RM1.50 flat rate for bank transfers |
4. Payment methods accepted
| Payment Gateway | Payment methods accepted |
| Razer Merchant Services
(RMS) |
Visa, Mastercard, Credit/Debit Card
Malaysia Online Bank Transfer – Maybank2u – CIMB Clicks – Hong Leong Connect – Public Bank PBe – RHB Now – Alliance Online – Affin Online – Bank Islam Online – UOB Bank Online – OCBC Bank Online – Standard Chartered Bank Online – AmOnline – I-Rakyat – I-Muamalat – Kuwait Finance House – Bank Simpanan National Online – HSBC Online
Other Payment Methods Razer Cash at 7-Eleven Buy Now Pay Later (BNPL) |
| eGHL | Visa, MasterCard Credit/Debit Card
Malaysia Online Bank Transfer Other Country Debit |
| PayPal | Credit/Debit Card Visa, MasterCard, Discover American ExpressMalaysia Bank Transfer |
| iPay88 | Visa, MasterCard Credit/Debit Card
Malaysia Online Bank Transfer Other Payment Methods |
| Billplz | Visa, MasterCard Credit/Debit Card
Malaysia Online Bank Transfer |
| Maybank2u Pay | Visa, MasterCard Credit/Debit CardMalaysia Online Bank Transfer Maybank2u only |
| 2Checkout | All major Credit/Debit cardsPayPal and other major walletsMalaysia Bank Transfer |
| Worldpay | Credit/Debit Card Visa, MasterCard, Discover American ExpressMalaysia Bank TransferOther Payment Method Contactless, Wallet Galore, Apply Pay, Amazon pay |
| 2C2P | Visa, MasterCard Credit/Debit CardMalaysia Online Bank Transfer Alliance Online, Am Online CIMB Clicks, EON Online Hong Leong Online, FP Maybank2u, RHB Online |
| kiple | Visa, 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 Gateway | Fraud & Risk management |
| Razer Merchant Services
(RMS) |
Yes |
| eGHL | Yes |
| PayPal | Yes |
| iPay88 | Advanced |
| Billplz | Average |
| Maybank2u Pay | Advanced |
| 2Checkout | Yes |
| Worldpay | Yes |
| 2C2P | Yes |
| kiple | Yes |
6. Accepted currencies
| Payment Gateway | Accepted Currencies |
| Razer Merchant Services
(RMS) |
RM Only |
| eGHL | RM Only |
| PayPal | 24 Currencies (USD, RM, Euros, GBP, Yen, SGD and more currencies) |
| iPay88 | RM Only (USD and others currencies are supported in iPay88 multicurrencygateway) |
| Billplz | RM Only |
| Maybank2u Pay | RM Only |
| 2Checkout | 12 International Currencies |
| Worldpay | Up to 120 Currencies |
| 2C2P | RM (MYR), US, Singapore, Hong Kong $, Thailand |
| kiple | RM (MYR) |
7. Set up type
| Payment Gateway | Set up type |
| Razer Merchant Services
(RMS) |
Online |
| eGHL | Online |
| PayPal | Online |
| iPay88 | Online |
| Billplz | Online |
| Maybank2u Pay | Online |
| 2Checkout | Online |
| Worldpay | Online |
| 2C2P | Online |
| kiple | Online |
8. Onboarding & Approvals time
| Payment Gateway | Onboarding & Approvals time |
| Razer Merchant Services
(RMS) |
3 to 5 working days (for internet bank transfer)
1 to 2 months (for credit card gateway) |
| eGHL | 7 – 14 working days |
| PayPal | Immediate |
| iPay88 | 7 – 14 working days (for internet bank transfer)1 to 2 months (for credit card gateway) |
| Billplz | 2 weeks |
| Maybank2u Pay | 1 to 2 weeks |
| 2Checkout | 24-48 hours |
| Worldpay | 5 working days |
| 2C2P | 1-2 weeks |
| kiple | 2-3 weeks |
9. Recurring Billing
| Payment Gateway | Recurring Billing |
| Razer Merchant Services
(RMS) |
Yes |
| eGHL | Yes |
| PayPal | Yes |
| iPay88 | Yes |
| Billplz | Yes |
| Maybank2u Pay | Yes |
| 2Checkout | Yes |
| Worldpay | Yes |
| 2C2P | Yes |
| kiple | No |
10. Charges on Refunds
| Payment Gateway | Charges on Refunds |
| Razer Merchant Services
(RMS) |
No extra charge |
| eGHL | RM 0.50 per transaction |
| PayPal | No extra charge |
| iPay88 | No extra charge |
| Billplz | No extra charge |
| Maybank2u Pay | No extra charge |
| 2Checkout | No extra charge |
| Worldpay | No extra charge |
| 2C2P | Minor |
| kiple | No extra charge |
11. SDK Stacks
| Payment Gateway | SDK Stacks |
| Razer Merchant Services
(RMS) |
Curl, Ruby, Java, Python, PHP, C#, Nodejs |
| eGHL | Docker, Java (Gradle) Java (Maven), JavaScript PHP, Python |
| PayPal | Java, .net, PHP, python, node, ruby |
| iPay88 | node, java, PHP |
| Billplz | C#, Go, PHP, JavaScript, Ruby |
| Maybank2u Pay | Java, JavaScript, NodeJs,PHP |
| 2Checkout | Java, Ruby, .net, C#, Python |
| Worldpay | PHP, java, ruby, .net, |
| 2C2P | Ruby, Java, Python, PHP |
| kiple | PHP, Java, Nodejs |
12. Settlement time
| Payment Gateway | Settlement time |
| Razer Merchant Services
(RMS) |
Lite Plan: RM2 per settlement
Premium Plan: Free
Weekly Transfer to Bank Account |
| eGHL | Weekly Transfer to Bank Account. |
| PayPal | Payment into PayPal Account Instantly. |
| iPay88 | Weekly Transfer to Bank Account |
| Billplz | Next day (T+1) |
| Maybank2u Pay | Next day (T+1) |
| 2Checkout | Weekly – Transfer to Bank Account |
| Worldpay | 4 weeks Transfer to Bank Account |
| 2C2P | Weekly – Transfer to Bank Account |
| kiple | T+1/T+2 |
13. Payouts support
| Payment Gateway | Payouts support |
| Razer Merchant Services
(RMS) |
Yes |
| eGHL | Yes |
| PayPal | Yes |
| iPay88 | Yes |
| Billplz | Yes |
| Maybank2u Pay | No |
| 2Checkout | Yes |
| Worldpay | Yes |
| 2C2P | No |
| kiple | No |
14. Split payments
| Payment Gateway | Split payments |
| Razer Merchant Services
(RMS) |
Yes |
| eGHL | No |
| PayPal | Yes |
| iPay88 | Yes |
| Billplz | No |
| Maybank2u Pay | No |
| 2Checkout | Yes |
| Worldpay | Yes |
| 2C2P | No |
| kiple | No |
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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
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
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
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
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
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
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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