In this article, we are going to summarize some of the best Malaysia online payment gateways that might fit your needs when it comes to integrating automatic online payment with your website or online stores. There are mainly two different categories, online payment gateways that do not require setup or annual fees (suitable for beginners) and online payment gateways with setup/annual fees (suitable for established companies with high sales volume due to lower transaction fees). You can use this guide to help you compare and decide which one best fits your company’s current situation.
Packages with No Setup and Annual Fees
We compile some of the most popular Malaysia online payment gateways with zero setup and annual fees. Featuring PayPal, Billplz, and toyyibPay. These Malaysia online payment gateways are suitable for those who have just started their business or company with little to no experience in handling online sales and e-commerce stores. These packages are good for beginners because they don’t require any setup or annual fees upfront, helping you to save costs.
PayPal is suitable if you are targeting customers outside Malaysia. Zero setup and annual fees. Customers can only pay with PayPal or Credit Card, no Malaysia Online Bank Transfer is available.
- Setup fee – FREE
- Malaysia Online Bank Transfer : Not Applicable
- Credit Card Transaction Fee : 3.9% + RM2.00
- Application Approval time : Immediate
- Settlement Speed : Manual withdrawal with minimum amount
- Register link
Billplz (Basic Membership Plan) could be your choice if you don’t require credit card transactions. Zero setup and annual fees. Only Malaysia Online Bank Transfer, no Credit Card included.
- Setup fee – FREE
- Malaysia Online Bank Transfer : RM1.50/transaction
- Credit Card Transaction Fee : Not Applicable
- Application Approval time : 1 week
- Settlement Speed : Next business day (except Friday)
- Register link
toyyibPay is the top choice when it comes to WooCommerce shop that requires Malaysian payment channels and Credit Card transactions. Cheapest transaction rates and free setup fees.
- Setup fee – FREE
- Malaysia Online Bank Transfer (FPX) : RM1.00/transaction
- Credit Card Transaction Fee : 2.0% / min RM1.00
- Application Approval time : 3 business days
- Settlement Speed : Next business day (FPX); 10 business days (Credit Card)
- Register link
Packages with Setup / Annual Fees but Lower Transaction Fees
Here are some of the most popular Malaysia payment gateway packages that require setup and/or annual fees. These packages are suitable for established businesses with a huge amount of transactions per month because these packages have lower transaction fees. Featuring eGHL, iPay88, and Razer Merchant Services (RMS).
eGHL on-boarding fee starts from RM499 and a monthly maintenance fee of RM25 (if less than RM15k per MID/month). Malaysia Online Bank Transfer and Credit Card transaction available.
- On-boarding fee – RM499
- Monthly maintenance fee – RM25
- Malaysia Online Bank Transfer : 2.5% or RM0.50 (whichever higher)
- Credit Card Transaction Fee : 2.5% + RM0.50 (for ticket size less than RM40)
- Application Approval time : 7 – 14 days
- Settlement Speed : Payout on weekly basis
- Register link
iPay88 (SME Plan) setup fee starts from RM488 and an annual fee of RM500. Malaysia Online Bank Transfer and Credit Card transaction available.
- Setup fee – RM488
- Annual fee – RM500
- Malaysia Online Bank Transfer : 2.9% or RM0.60 (whichever higher)
- Credit Card Transaction Fee : 2.9%
- Application Approval time : 7 – 14 working days
- Settlement Speed : Payout on weekly basis
- Register link
RMS (Premium Plan) one-time signup fee is RM400 and RM499 annual fee. Malaysia Online Bank Transfer and Credit Card transaction available.
- One-time Signup fee – RM400
- Annual maintenance fee – RM499
- Malaysia Online Bank Transfer : 2.4% or RM0.60 (whichever higher)
- Credit Card Transaction Fee : 2.4%
- Application Approval time : 3-5 days (online banking payment channel), 1-2 months (credit card payment channel)
- Settlement Speed : Payout on weekly basis
- Register link
Malaysia online payment gateway companies do not limit to the list above, make sure you do more research and see which fits your company (as more payment gateway companies are emerging these days due to the boom of the e-commerce industry). Whichever online payment gateway that you choose, make sure to read the terms and conditions before signing up with them.
