Malaysia Online Payment Gateways Comparison (iPay88, Molpay (Razerpay), eGHL & senangPay)

The eCommerce platform in Malaysia is expanding swiftly due to most companies have built their shops online. Most of the business and eCommerce platforms utilized a payment gateway for easier checkout and smooth user experience. Its system has been developed to ensure the online transaction safe and secure, due to its special encryption and verification system. This system, will guarantee your customers will have the best experience when doing the transaction.

Digitize your business now and always stay in front of your other business competitors. Below are some of the payment gateway options suitable for all Malaysian merchants. The following comparison table will help you to decide which online payment gateway provider is more suitable for your business needs.

 

Providers RazerPay eGHL iPay88 senangPay
Package Premium Plan eGHL 499 Package iPay88 SME Plan Basic
Setup Fee RM 400 (inclusive of GST) – including API & Merchant Admin Module **RM 499 (One Time Only) *RM 488
(*Waived RM 900 processing fee imposed by bank for credit card gateway)
No
Annual Fee RM 499 (inclusive of GST) **RM 25.00 for transaction volume less than RM 15,000 per/month
Waived if monthly volume exceed RM 15,000
*RM 500
Waived from 2nd year onwards
RM 300
Transaction Fee 2.8% per transaction for Visa and Mastercard

2.8% per transaction or minimum RM 0.60 whichever is higher for online banking (e-debit)

Cards

    • 2.5% MYR per processing

+ 1% non-MYR processing
+ MYR 0.50 for ticket size less than MYR 40.00

Non-Card

  • 2.5% or RM 0.50 (Whicheever is higher)

e-Wallet

  • 0.5% per transaction (MCash)
  • 1.5% per transaction (Boost, GrabPay, Touch N Go
2.0% + 6% GST per transaction for Visa/Mastercard credit card

MYR 1.00 + 6% GST per transaction for online banking (FPX)

Cards

  • 2.5% MYR per processing

Non-Card

  • 1.5% MYR per processing
Supported Currencies MYR MYR MYR (support multi currencies) MYR
Withdrawal Method Transfer to local bank (weekly) Transfer to local bank (weekly) Transfer to local bank (weekly) Transfer to local bank (weekly)
Receive money in local bank Yes Yes Yes Yes
Supported Cards Visa, Mastercard Visa, Mastercard, American Express, Union Pay Visa, Mastercard, American Express, Union Pay Visa, Mastercard
Reliability High High High High
Minimum Amount for Withdrawal RM 100 (No withdrawal charge) No Minimum Withdrawal Amount RM 100 RM 100 (No withdrawal charge)
Bank Transfer and Other Payment Services Malaysia Online Bank Transfer

  • Alliance Online
  • Am Online
  • CIMB Clicks
  • Eon Online
  • Hong Leong Online
  • Maybank2u
  • RHB Online
  • FPX

Other Payments Methods

Razer Cash at 7-Eleven, JomPay ATM

Malaysia Online Bank Transfer

  • Maybank2U
  • CIMB Clicks
  • PbeBank
  • RHB Online
  • Bank Islam
  • Affin Online
  • OCBC Bank
  • HSBC
  • Bank Rakyat
  • Bank Muamalat
  • Alliance Bank
  • UOB
  • AmBank Group
  • Standard Chartered

E-Wallet
Boost, Grab Pay, MCash, Touch N Go, Maybank QR Pay

Other Country Debit

Malaysia Online Bank Transfer

  • FPX
  • Maybank2U
  • Affin Online
  • CIMB Clicks
  • Bank Islam
  • BSN
  • PbeBank
  • UOB
  • OCBC Bank
  • RHB Online
  • Bank Muamalat
  • Standard Chartered
  • Alliance Bank
  • AmBank Group
  • Bank Rakyat
  • HSBC
  • KFH

Other Payment Method

  • 3.2% for PayPal(Visa/Master)
  • 0% for Boost wallet
  • 1.2% for Vcash Waller
  • 2.0% for KipplePay
Malaysia Online Bank Transfer

  • FPX
  • Affin Bank
  • AmBank
  • Bank Islam
  • Bank Rakyat
  • Bank Muamalat
  • CIMB Bank
  • Hong Leong Bank
  • Maybank
  • OCBC Bank
  • Public Bank
  • RHB
  • Standard Chartered
  • UOB

*Subject to Tax
Disclaimer: The Malaysia Payment Gateway Comparison Table is for reference only. Any information given does not constitute any warranty for a particular use. The copyrights and trademarks of the companies and products mentioned belong to their respective owners.

Some of these payment gateway systems come with multiple fees that will increase your expenses, but keep in mind as it will ease your customers and make them relax when using your online transaction system.

All the best as you take your business to the next level!

 

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