Malaysia
Main Regional figures
Population
Internet users
Bank population
The Best Systems in Malaysia
Malaysia is an important financial hub in Southeast Asia. It is important for businesses to choose the right gateway to ensure security. Check out the list of payment gateway in Malaysia and their main features to navigate the e-commerce sphere:
Payment Gateway Malaysia: Everything You Have To Know
In Malaysia, the e-payment market is booming due to the growth of e-commerce. Payment gateway systems have become an important tool for local and international companies and secure methods. Read about these statistics:
- E-commerce market size. According to Statista website, e-commerce transactions in Malaysia reached MYR 41.2 billion in 2023, up 15% from 2022.
- Growth of mobile transactions. In 2023, about 45% of all online transactions in the country were made through mobile devices.
- Popularity of e-wallets. More than 70% of internet users in Malaysia actively use e-wallets such as GrabPay, Boost and Touch’n’Go. Annual rate increases each year.
- Preferences. Users make 30% of transactions through credit cards, 45% through e-wallets, 20% through online banking and 5% through other methods.
- B2B market. B2B transactions via payment gateway Malaysia grew by 25% in 2023.
Modern gateways are adaptable to various needs, such as local transactions via e-wallet or international transactions with Visa and MasterCard cards.
What Exactly is a Payment Gateway?
A gateway is a technology that offers secure online transactions between buyers and sellers. It acts as a bridge and encrypted sensitive data. Such technology ensures the safe transfers of funds between the buyer’s bank and the seller’s account.
Every payment gateway in Malaysia supports businesses and ensures secure transactions. This is important for e-commerce and mobile apps. It is also suitable for traditional retailers who are moving into the digital space. Gateways provide faster processing, fraud protection and integration with local methods. Such features make gateways indispensable tools for modern commerce.
Payment Gateway in Malaysia: What You Should Consider
The best payment gateways in Malaysia ensure fast transactions across the country. Consider the following key factors.
Compatibility with local payment methods
Make sure that gateway supports popular methods like GrabPay, Touch’n Go and Boost.
International support
Businesses that are targeting the global market can choose an international gateway. It accepts multiple currencies and options like Visa, Mastercard and PayPal.
Transaction fees
Compare setup fees, transaction costs and monthly fees to make transactions profitable.
Security features
Look for advanced encryption, fraud detection tools and PCI DSS compliance.
Ease of integration
Choose a gateway that integrates seamlessly with your e-commerce platform or app. Popular examples that experienced users point out include Shopify, WooCommerce and Magento.
Customer support
Reliable 24/7 support ensures that issues are resolved quickly and downtime is kept to a minimum.
Settlement period
Shorter settlement periods mean faster access to funds. These factors will help you choose the payment gateway that suits your business needs and expands your reach locally and globally.
The best gateways
Paykassma
Paykassma
A-Pay
A-Pay
iPay88
iPay88 is a leading online service provider in Southern Asia. The system offers payment solutions for e-commerce, mobile transactions and POS systems. It supports over 100 methods and is widely used in Southeast Asia.
| Characteristic | Details |
|---|---|
| Registration documents | Bank account and ID |
| Mobile app | Yes |
| Customer support | Local support |
| E-commerce platform | Yes |
| Registration documentsBank account and ID | |
| Mobile appYes | |
| Customer supportLocal support | |
| E-commerce platformYes |
Pros
- Wide range of supported methods
- Robust security system
- Local customer support
Cons
- May be difficult to integrate with some platforms
- Approval process required for new merchants
eGHL
eGHL payment gateway providers ensure comprehensive solutions for online businesses. It allows you to accept transactions via QR codes, bank transfers and installments. The system supports a wide range of options and guarantees secure transactions.
| Characteristic | Details |
|---|---|
| Registration documents | Bank account and ID |
| Mobile app | Yes |
| Customer support | Local support |
| E-commerce platform | Yes |
| Registration documentsBank account and ID | |
| Mobile appYes | |
| Customer supportLocal support | |
| E-commerce platformYes |
Pros
- Wide range of methods
- Best services for businesses of all sizes
Cons
- May require time for setup and integration
Paykassma
Paykassma is an international payment aggregator offering tailored online payment solutions for businesses and consumers in Malaysia
| Characteristic | Value |
|---|---|
| Requirements | Registered business and KYC documentation |
| Accepted Methods | Visa, MasterCard, bank transfers, Uzcard, Humo |
| Supported Currencies | UZS, USD, EUR, GBP, AUD, BDT, BRL, INR, IDR, MYR, MXN, NPR, PHP, PLN, LKR, THB, VND |
| RequirementsRegistered business and KYC documentation | |
| Accepted MethodsVisa, MasterCard, bank transfers, Uzcard, Humo | |
| Supported CurrenciesUZS, USD, EUR, GBP, AUD, BDT, BRL, INR, IDR, MYR, MXN, NPR, PHP, PLN, LKR, THB, VND |
Pros
- Compatible with numerous currencies, facilitating international transactions
- Achieves a 99.9% payment success rate, significantly enhancing conversion rates
- Provides an intuitive platform for managing payments
Cons
- Certain transactions may incur higher fees, particularly for currency conversion and withdrawals
- Some local payment methods may not be supported
PayPal
PayPal is one of the best payment gateway and the largest international online platforms. PayPal was initially created as a service for Palm Pilot, but later became the main tool for eBay. It provides secure and fast transactions for businesses and individuals worldwide.
| Characteristic | Details |
|---|---|
| Method | E-wallet, Free payment gateway Malaysia |
| Registration documents | Personal ID, Business registration |
| Settlement period | Instant – 3 days |
| Mobile app | AES-256 |
| Onboarding time | Instant |
| Customer support | Online chat, phone, forum |
| E-commerce platform | Shopify, Magneto, WooCommerce |
| Other compatible apps | CRM, ERP |
| Dashboard | eBay, Shopify, WooCommerce, Magento, BigCommerce |
| MethodE-wallet, Free payment gateway Malaysia | |
| Registration documentsPersonal ID, Business registration | |
| Settlement periodInstant – 3 days | |
| Mobile appAES-256 | |
| Onboarding timeInstant | |
| Customer supportOnline chat, phone, forum | |
| E-commerce platformShopify, Magneto, WooCommerce | |
| Other compatible appsCRM, ERP | |
| DashboardeBay, Shopify, WooCommerce, Magento, BigCommerce |
Pros
- International availability
- High security and fraud protection
- Easy integration with websites and online stores
Cons
- High transaction fees compared to local gateways
- Account freezing issues for some users
Billplz
Billplz is a Malaysia-based credit card payment gateway. It focuses on simple and cost-effective online transactions for businesses of all sizes. It provides low fees and supports instant transactions through local banks.
| Characteristic | Details |
|---|---|
| Method | Online Payment Solution |
| Registration documents | Business Registration |
| Settlement period | 1 business day |
| Mobile app | No |
| Onboarding time | 2-5 days |
| Customer support | 24/7 |
| E-commerce platform | WooCommerce, Shopify |
| Other compatible apps | Accounting Software |
| Dashboard | Yes |
| MethodOnline Payment Solution | |
| Registration documentsBusiness Registration | |
| Settlement period1 business day | |
| Mobile appNo | |
| Onboarding time2-5 days | |
| Customer support24/7 | |
| E-commerce platformWooCommerce, Shopify | |
| Other compatible appsAccounting Software | |
| DashboardYes |
Pros
- Affordable pricing structure
- Supports recurring billing and links
Cons
- Limited international availability
- No built-in fraud prevention system
Stripe
Stripe is a global payment processor. It is known for its developer-friendly APIs and support for businesses of all sizes.
| Characteristic | Details |
|---|---|
| Registration documents | Business registration, ID |
| Settlement period | 2-7 business days |
| Mobile app | Yes |
| Onboarding time | 1-3 days |
| Customer support | 24/7 |
| E-commerce platform | Shopify, WooCommerce, Magento |
| Other compatible apps | CRM, ERP |
| Dashboard | Yes |
| Registration documentsBusiness registration, ID | |
| Settlement period2-7 business days | |
| Mobile appYes | |
| Onboarding time1-3 days | |
| Customer support24/7 | |
| E-commerce platformShopify, WooCommerce, Magento | |
| Other compatible appsCRM, ERP | |
| DashboardYes |
Pros
- Supports a wide range of international currencies
- Customizable checkout experience
Cons
- Higher fees compared to local providers
- Limited direct local support in some countries
SenangPay
SenangPay is a popular Malaysian payment system that offers a wide range of methods. It is suitable for small businesses. It offers credit cards, online banking and e-wallets.
| Characteristic | Details |
|---|---|
| Method | Business in Malaysia |
| Registration documents | Business registration, bank account |
| Customer support | Local support |
| E-commerce platform | Multiple integrations |
| MethodBusiness in Malaysia | |
| Registration documentsBusiness registration, bank account | |
| Customer supportLocal support | |
| E-commerce platformMultiple integrations |
Pros
- A wide range of methods
- Reliable security system
- Local customer support
Cons
- May be difficult to integrate with some platforms
- Approval process required for new merchants
2C2P
2C2P is an international payment processor in Malaysia that provides services for e-commerce, mobile transactions and POS systems. 2C2P is active in Southeast Asian countries and offers a wide range of methods for business. It is known for its partnership with giants like Visa and Mastercard.
| Characteristic | Details |
|---|---|
| Method | Payment Gateway |
| Registration documents | Business registration and bank account |
| Mobile app | Yes |
| Onboarding time | Moderate |
| Customer support | 24/7 |
| E-commerce platform | Shopify, WooCommerce, Magento |
| Dashboard | Yes |
| MethodPayment Gateway | |
| Registration documentsBusiness registration and bank account | |
| Mobile appYes | |
| Onboarding timeModerate | |
| Customer support24/7 | |
| E-commerce platformShopify, WooCommerce, Magento | |
| DashboardYes |
Pros
- Many options for international transactions
- Reliable fraud prevention system
- Support for multiple languages and currencies
Cons
- High fees for small businesses
- Need for a long approval process for new customers
Worldpay
Worldpay is the best payment gateway for small businesses in Malaysia that provides secure online for businesses worldwide. It supports a wide range of methods and provides easy integration with various merchant platforms. Worldpay processes millions of transactions per day.
| Characteristic | Details |
|---|---|
| Method | Transaction System |
| Registration documents | Business registration, bank account |
| Settlement period | 2-5 days |
| Mobile app | Yes |
| Onboarding time | Long |
| Customer support | 24/7 |
| E-commerce platform | Shopify, WooCommerce, Magento, BigCommerce |
| Dashboard | Yes |
| MethodTransaction System | |
| Registration documentsBusiness registration, bank account | |
| Settlement period2-5 days | |
| Mobile appYes | |
| Onboarding timeLong | |
| Customer support24/7 | |
| E-commerce platformShopify, WooCommerce, Magento, BigCommerce | |
| DashboardYes |
Pros
- High transaction security
- Wide range of supported methods
- Easy integration with most platforms
Cons
- High fees for international transactions
- The registration process can be time-consuming
MOLPay
MOLPay is a popular gateway that offers business services in Southeast Asia. It supports multiple methods and provides secure options for online merchants. Later, it became part of iPay88.
| Characteristic | Details |
|---|---|
| Method | Transaction System |
| Registration documents | Business registration, bank account |
| Settlement period | 1-3 days |
| Mobile app | Yes |
| Onboarding time | Moderate |
| Customer support | Local support |
| E-commerce platform | Shopify, WooCommerce, Magento |
| Dashboard | Yes |
| MethodTransaction System | |
| Registration documentsBusiness registration, bank account | |
| Settlement period1-3 days | |
| Mobile appYes | |
| Onboarding timeModerate | |
| Customer supportLocal support | |
| E-commerce platformShopify, WooCommerce, Magento | |
| DashboardYes |
Pros
- Supports multiple methods
- Fast and secure transaction processing
- Good local support in Southeast Asia
Cons
- Limited support for international transactions
- The registration process may take some time
FAQ
What is the payment gateway system in Malaysia?
A gateway processes online transactions between customers and merchants. Among popular providers we can highlight iPay88, eGHL, PayPal and SenangPay.
What is the best method in Malaysia?
The best method depends on the business, with options like credit/debit cards, e-wallets and FPX for online banking.
Is FPX a payment gateway?
Yes, FPX is a gateway in Malaysia. It enables real-time electronic fund transfers directly from bank accounts.
