Malaysia Online Payment Gateways Comparison (iPay88, Razer Merchant Services (formerly known as MOLPay), eGHL & senangPay)
**Last update on 5/7/2021, 2:50 pm**
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 | Razer Merchant Services | eGHL | iPay88 | senangPay |
|---|---|---|---|---|
| Package | Premium Plan | eGHL 499 Package | iPay88 SME Plan | Basic |
| Setup Fee | RM 400 (subject to 6% SST) – 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 (subject to 6% SST) | **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 | 2.4% per transaction for Visa and Mastercard
2.4% per transaction or minimum RM 0.60 whichever is higher for online banking (e-debit) |
Cards
Non-Card
e-Wallet
|
2.0% + 6% GST per transaction for Visa/Mastercard credit card
MYR 1.00 + 6% GST per transaction for online banking (FPX) |
Cards
Non-Card
|
| 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
Other Payments Methods Razer Cash at 7-Eleven, Buy Now Pay Later (BNPL)
Online E-Wallets
|
Malaysia Online Bank Transfer
E-Wallet Boost, Grab Pay, MCash, Touch N Go, Maybank QR Pay
Other Country Debit |
Malaysia Online Bank Transfer
Other Payment Method
|
Malaysia Online Bank Transfer
|
*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!
Saya nak pakai sekarang blh ka
ya boleh, just need to apply a merchant account with the respective provider.
Boleh ke nak sgera
how about with eWallet option ?
Currently our service is more to integration with the payment gateway available, and e-wallet is part of the payment channel supported by majority of the payment gateways.
online paymets