IPay88
iPay88 is a widely trusted and recognised online payment gateway in Malaysia, tailored to serve small and medium-sized enterprises, startups, and growing digital businesses. Launched in 2006 and later acquired by Japan’s NTT Data Corporation, iPay88 has grown into a top-tier payment solution provider with a strong presence across Southeast Asia.
One of the gateway’s key strengths lies in its wide variety of supported payment channels, including FPX (Financial Process Exchange), local and international credit/debit cards, and mobile wallets like GrabPay, ShopeePay, and Touch 'n Go. Businesses can also take advantage of payment links and invoicing tools — making it possible to accept payments without even owning a website.
For companies that need a reliable gateway with subscription billing, donation collection, or mobile-first payments, iPay88 reviews often praise its recurring billing options, POS integration, and e-invoice generation capabilities. The gateway is also known for its close working relationship with local banks, ensuring fast settlement times and secure fund transfers.
| Characteristic | Details |
|---|---|
| Regions | Southeast Asia |
| Getting started | Website application |
| Setup Fee | RM488 |
| Annual fee | RM0 (Startup), RM500 (SME) |
| Commission per transaction | 3.5% (Startup), 2.9% (SME) |
| Payment methods accepted | FPX, Visa, Mastercard, e-wallets, PayPal, BNPL |
| Fraud & Risk management | Layered risk engine, OTP, PCI DSS |
| Accepted Currencies | 13 |
| Set up type | Hosted, Plugin, API |
| Onboarding & Approvals time | 7–14 days (FPX), 30–60 days (Cards) |
| Recurring Billing | Yes |
| SDK Stacks | PHP, .NET, Java |
| Settlement time | Within 5 business days |
| RegionsSoutheast Asia | |
| Getting startedWebsite application | |
| Setup FeeRM488 | |
| Annual feeRM0 (Startup), RM500 (SME) | |
| Commission per transaction3.5% (Startup), 2.9% (SME) | |
| Payment methods acceptedFPX, Visa, Mastercard, e-wallets, PayPal, BNPL | |
| Fraud & Risk managementLayered risk engine, OTP, PCI DSS | |
| Accepted Currencies13 | |
| Set up typeHosted, Plugin, API | |
| Onboarding & Approvals time7–14 days (FPX), 30–60 days (Cards) | |
| Recurring BillingYes | |
| SDK StacksPHP, .NET, Java | |
| Settlement timeWithin 5 business days |
Pros
- Over 37 supported payment channels
- Recurring billing and subscription tools
- No annual fee for startups
- Excellent fraud prevention and PCI DSS compliance
- Easy integration with eCommerce platforms
Cons
- Higher initial setup fee
- Long onboarding for credit card gateway
- Split payments not available
- Annual fee still applies for SMEs
- Limited currency support for global expansion
Benefits of Using iPay88
Using iPay88 offers multiple advantages for both online and offline businesses in Malaysia and the surrounding region. It provides broad compatibility with key payment methods used by Malaysian consumers, including local debit cards, FPX, and mobile wallets. The system also accommodates email invoicing and scheduled payments, making it ideal for businesses that need recurring billing functionality or offer subscription-based services.
Because it doesn’t require a website to start accepting payments, even consultants, coaches, or sellers on social media can use iPay88 effectively. Its infrastructure is stable, and fund settlements happen quickly, which is crucial for maintaining healthy cash flow.
How to Use the iPay88 Gateway
To start using iPay88, merchants need to submit a registration form on the official website, along with business documents like company registration and bank details. After verification, merchants receive access to the admin portal, where they can configure payment plugins for platforms like Shopify, WooCommerce, and EasyStore.
From the dashboard, it’s possible to generate payment links, set up recurring billing, manage transactions, and send invoices via email or messaging apps. The interface is relatively beginner-friendly and backed by a local support team during working hours. Businesses without a tech team can also rely on available SDKs and support documentation to guide them through the integration process.
Review
The overall ipay88 review consensus is positive among Malaysian businesses. Merchants appreciate the gateway’s localisation, ease of use, and the ability to scale as business needs grow. Compared to global providers, iPay88’s strongest edge lies in its understanding of the Malaysian banking ecosystem and payment habits — from integration with Maybank and CIMB to support for region-specific e-wallets.
Some ipay88 reviews raise concerns about the lengthy credit card onboarding process, especially for first-time applicants. However, once onboarded, the service runs smoothly with few complaints about performance, stability, or transaction speed.
Safety
In August 2022, Bank Negara Malaysia issued a statement regarding a potential data breach involving iPay88. The issue affected payment card details processed via the gateway and sparked concerns about information security. In response, iPay88 took swift measures by hiring independent cybersecurity auditors, tightening its PCI DSS protocols, and working with authorities to ensure full transparency and corrective action.
Since then, no additional breaches have been reported. The gateway has improved its security infrastructure with features like two-factor authentication (2FA), tokenisation, and stricter merchant onboarding protocols — helping restore confidence among users.
Account Fees
iPay88 has a one-time setup fee of RM488. Startups enjoy zero annual fees for life, while SMEs are required to pay RM500 annually. Transaction fees range between 2.9% and 3.5%, depending on the business category. There are no extra charges for refunds, which is rare and advantageous in comparison to other online payment gateways in Malaysia.
iPay88 For Business
For businesses of all sizes, iPay88 provides a solid foundation for digital payments. It supports localised checkout experiences that Malaysian customers are used to, while offering flexibility to expand with features like QR codes, POS integration, and payment link generation. This makes it especially attractive for growing SMEs that want stability and support without steep technical demands.
Which Type of Business Is It For?
iPay88 is suitable for SMEs, startups, NGOs, and service-based businesses offering subscriptions, donations, or repeat payments. It also works well for industries like education, e-learning, SaaS, event management, food delivery, and retail — essentially any vertical that benefits from recurring revenue and local bank compatibility.
For Physical Clients
While iPay88 is often seen as a digital-first solution, its POS and invoice tools make it practical for physical businesses too. Merchants can issue QR-based payments in stores or send invoices via SMS/email for home deliveries. The fact that payments can be accepted without a full website setup makes it versatile for pop-up shops, freelancers, and offline service providers.
FAQ
Does iPay88 support e-wallet payments in Malaysia?
Yes. iPay88 supports a wide range of Malaysian e-wallets including GrabPay, Boost, Touch 'n Go, and ShopeePay. This makes it convenient for local shoppers who prefer mobile-first payments, and merchants don’t need to set up separate integrations for each e-wallet provider.
Can I use iPay88 without a registered website?
Absolutely. iPay88 allows you to generate payment links and send them via email, SMS, or even social media. This feature is especially useful for consultants, trainers, and micro-entrepreneurs who operate without a traditional eCommerce store.
How secure is iPay88 after the 2022 data incident?
Following the 2022 incident, iPay88 enhanced its PCI DSS controls, introduced 2FA across merchant portals, and performed external security audits. Since these changes, no further security issues have been reported. It remains one of the more secure local options.
How long does it take to onboard with iPay88?
FPX and basic payment services typically take 7–14 working days. For credit card payments, onboarding can take up to 60 days due to required risk assessments and banking approvals. Startups often experience a smoother process with fewer documentation demands.
What types of businesses benefit most from iPay88?
Businesses that serve Malaysian customers — whether online or offline — benefit most. From eCommerce stores and restaurants to digital education providers, anyone who needs local payment convenience and a secure infrastructure will find iPay88 a reliable choice.
