Best Malaysia Payment Gateway Comparison For Ecommerce Business

Payment gateways provide the service to process online payments from customers to merchants securely. When integrated with any ecommerce website, the role of payment gateways is to allow customers to pay for their online purchases using either credit or debit cards or via online banking smoothly.

Here’s a look at some of the best Malaysia payment gateway providers used by the majority of Malaysian online sellers.

You’ll find the best payment gateway in Malaysia comparison chart at the later part of this article.


PayPal Malaysia

PayPal is well known internationally as it’s widely used by both local and international sellers.

Customers DO NOT NEED to have a PayPal Malaysia account to make payment on a website that is using PayPal as their payment gateway processor.

Customers can just use their credit or debit card when they land on PayPal’s site during the checkout process by clicking the “Pay with credit card” link.

PayPal checkout with credit card or debit card

PayPal is a flexible payment gateway Malaysia that is both popular and easy to manage.

PayPal Malaysia does not require any sign up fee or yearly fee to use their online credit card processing Malaysia feature making it highly recommendable for new startups to begin accepting credit / debit card payments from customers.

However, please note that while PayPal is easy to set up and use, their transaction fee is 3.9% + RM2 for credit / debit card online transactions for Malaysian customers whereas international customers buying from you will be charged at 4.4% + USD0.30 per transaction.

PayPal Malaysia Fee Tiers

However, setting up a PayPal Malaysia account to accept payment is easy and fast.

Just go to PayPal Malaysia’s site and sign up for a business account.

Key in your details and remember to link your PayPal account to your online store to start accepting online payments.

Here’s how to link your InstanteStore to PayPal.

PayPal Malaysia does not offer FPX online banking.

You’ll need to transfer the funds from your PayPal account to your local bank account.

If the amount is less than RM400, there’s a RM3 charge by PayPal. There’s no charge if the amount is RM400 and above.


Braintree Malaysia

Braintree is an ecommerce payment gateway that was acquired by PayPal in 2013 with the goal of propelling the payment platform on a global scale.

All kinds of businesses use Braintree to accept payments in mobile apps and websites as they have experience working with new business models.

Merchants in Malaysia can accept PayPal, Apple Pay, Android Pay, and cards on the Visa and Mastercard networks as long as the cards are enabled for online use.

Braintree Malaysia Pricing Details

Please note there’s a RM90 flat rate for chargebacks.

Signing up for a Braintree Malaysia account may take a bit of time as the company requires your business registration details (Malaysian IC, Business Registration Forms, Utility Bills with business registered address, Malaysian Bank Account Statement that is registered with the business, etc) to verify that you’re a valid legal business before opening a Braintree account for you.

The good thing about Braintree is that they offer a lower credit / debit card transaction fee (3.4% + RM2) compared to PayPal (3.9% + RM2) and that all payment is pushed to your local bank account on a daily basis.

And like PayPal, Braintree does not charge any Setup Fee or Yearly Fee at all.

Braintree Malaysia does not offer FPX online banking.

Braintree will automatically push all payment amount to your local bank account on a daily basis with no minimum amount.


iPay88 Malaysia

iPay88 is one of Malaysia’s leading payment gateway ecommerce providers.

Their headquarters is located in Kuala Lumpur, Malaysia and they have a presence in Cambodia, Indonesia, the Philippines, Thailand and Singapore.

iPay88 was acquired by NTT DATA, a Japanese system integration company in 2015 and continues to strengthen their presence in the ecommerce and mobile commerce field in the whole of South East Asia.

iPay88 Malaysia offers 2 different plans to meet your business needs.

If you’re only looking for a payment gateway for online store in Malaysia FPX feature to accept payment via online banking and e-wallets from customers, then you can consider iPay88’s Start Up Plan. It comes with a one time Setup Fee of RM488 (wef 20 March 2020).

Bear in mind their FPX rate for the Start Up Plan is 3.5% or RM0.60 per transaction whichever is higher.

Their Start Up Plan only comes with online banking, credit / debit card (ONLY UnionPay at 3.5%) and e-wallets.

iPay88 Malaysia Payment Methods

Their SME Plan offers online banking, credit/debit card processing (Visa/Master/UnionPay) and e-wallets.

For credit card processing (Visa/Master/UnionPay), they’ll be using local banks to process those payments at a lower transaction rate (2.7%) while debit card (Visa/Master) is at 2.5% which is better than you using a direct PayPal account (3.9% + RM2 per transaction).

These 2 plans come with a Setup Fee of RM488. Merchants who choose their SME Plan will have to pay RM500 for Annual Fee while the Credit Card Application Fees of RM900 is waived by iPay88.

Both plans include e-wallets Boost (1%), MBBQR (1%), GrabPay (1.5%), TouchnGo (1.5%) and MCash (1.5%).

iPay88 will pay out on a weekly basis to your local bank account but the minimum amount is your iPay88 account must be RM10 for them to do so.

iPay88 Malaysia claims to have a proven fraud prevention system and monitoring in over 14 years which has resulted in fraud ratio far below the industry threshold.


eGHL Malaysia

eGHL was founded in 2013 and functions as an internet payment arm of GHL Systems Berhad.

You’ll notice quite a number of physical card payment terminals in physical stores and retail using GHL as their credit / debit card payment processor.

So it comes as no surprise that the company entered the ecommerce payment gateway market with their internet payment arm, eGHL.

eGHL is a Malaysia payment gateway that offers a secure internet payment solution which covers both card and non-card payment channels for online businesses throughout the South East Asia region.

eGHL Malaysia Features

eGHL offers a lower transaction fee for credit / debit card (1.8% – 2.5%) and FPX payments (1.8% – 2.5% or RM0.50 whichever is higher) depending on the plans you take.

They have 3 plans to meet your business needs : RM499 / RM5k / RM10k which is also the On-Boarding Fee that you need to pay when you sign up with them.  Please note that the fee is subject to 6% SST.

Startups which choose the RM499 plan will need to pay a Maintenance Fee of RM25 + 6% SST per month IF total monthly transactions are less than RM15k for the month.

Coupled with that, there’s a Yearly Fee of RM599 (waived if total transactions exceed RM180k per year) for the RM5k and RM10k plan.

eGHL is an excellent payment gateway provider to consider if your business has consistent growing volume to justify the yearly fee while you enjoy lower transaction fee for credit / debit card and FPX payments.

Here’s a rundown of their 3 plans with e-Wallet rates (wef 3 June 2020) :

RM499 Plan
Credit / Debit card for Visa/Master : 2.5%
+ 1% for non-MYR processing
+ RM0.50 (for transactions less than RM40)
Online Banking : 2.5% or RM0.50 (whichever higher)
Boost, MCash, GrabPay, TouchnGo : 1.5%
Maybank QRPay : 1%
Maintenance Fee : RM25 + 6% SST per month IF total monthly transaction volume less than RM15k per month

RM5k Plan & RM10k Plan
Credit / Debit card for Visa/Master : 2.0% (RM5k Plan) / 1.8% (RM10k Plan)
+ 1% for non-MYR processing
+ RM0.50 (for transactions less than RM40)
Online Banking : 2.0% (RM5k Plan) / 1.8% (RM10k Plan) or RM0.50 (whichever higher)
Boost, MCash, GrabPay, TouchnGo, Maybank QRPay : 1%
Yearly Fee : RM599 + 6% SST (waived if transaction volume exceed RM180k per year)

Processing Fee for all 3 plans
Refund : RM0.50 per transaction
Chargeback : RM5 per transaction
Settlement : No charge to Malaysian local bank, USD30 to Foreign Bank

Payments are pushed to your local bank account on a weekly basis with no minimum amount requirement.


MOLPay Malaysia

MOLPay is one of the leading payment gateway in South East Asia that has been connecting international brands to consumers across the region since 2005.

MOLPay Malaysia offers a full range of alternative payment methods such as online banking, cash at 7-Eleven (MOLPay Cash), e-wallet and more as their single API serves as a connector for clients to reach all consumers across South East Asia.

MOLPay Malaysia Supported Banks

MOLPay Malaysia offers a Premium Plan for ecommerce businesses.

There’s a One Time Sign Up Fee (non-refundable) of  RM400 and a Yearly Maintenance Fee of RM499 for the Premium Plan. (wef 11 Jun 2020)

Serious sellers would go for their Premium Plan as it offers a lower transaction fee for credit / debit card  at 2.4% (Master / Visa) and FPX (2.4% or RM0.60 whichever higher) and Razer Cash (2.4% or RM0.80 whichever is higher).

Razer Cash allows customers the convenience of paying cash conveniently at their preferred 7-Eleven and 99 Speedmart outlets nationwide. It’s the perfect solution for online shoppers who do not have a debit / credit card or internet banking. It’s also for those who have insecurities on sharing their bank details online. Hence Razer Cash is an alternative payment channel for those who do not trust Internet security. So convenience stores act as the customers’ cash machine to complete their payment transactions for online purchases.

MOLPay is also integrated with Online E-wallet Channels :
Razer Pay : 1.2%
Boost, GrabPay, Maybank QRPay, Touch ‘n Go : 1.4%

To enable credit card processing, the One Time Bank Processing Fee for credit card channel (Visa / Mastercard) of RM900 has been waived.

While they do pay out on a weekly basis, please note that there’s minimum payout amount of RM100 before they’ll process the payout to your local bank account.

There’s no Settlement Fee and payout is on a weekly basis. 

MOLPay also offers Alipay and UnionPay channel as an add-on for Malaysian merchants who wish to receive online payment from China customers :

One Time Setup Fee (non-refundable) : RM499
Yearly Maintenance Fee : None
Alipay Online : 3% per transaction
UnionPay Online : 3% per transaction
Processing Currency :
Alipay – USD, RMB, MYR, SGD
UnionPay – USD, RMB, MYR
Minimum Settlement : RM100
Settlement Currency : Malaysian merchant (MYR), Non-Malaysian Merchant (USD, USD10 for Settlement Charge)

MOLPay claims to achieve one of the lowest dispute transaction ratio in the online payment industry.

Best Malaysia Payment Gateway Comparison Chart

Best Malaysia Payment Gateway Comparison Chart

The Best Malaysia Payment Gateway Comparison Chart gives an overview of the payment gateway Malaysia fees for credit / debit card and FPX online banking, set up fees, yearly fees and minimum withdrawal amount to local bank account giving new and existing merchants the choice to sign up or switch to different providers.

Merchants who are interested to enjoy the transaction rates mentioned can contact us and we will help them register for a new account with the respective Malaysia payment gateways.

For Ecommerce Startups And New Businesses

For startups and new businesses who are very budget conscious, we would normally recommend that they sign up with a PayPal direct account first while pending their application for any of the payment gateway providers of their choice.

Most like the word ‘FREE’ so they’ll usually go for iPay88’s SOHO Plan where they do not need to pay any set up or yearly fee while enjoying access to both credit / debit card processing by iPay88’s PayPal and FPX Online Banking.

For Ecommerce Sites With Volume Transactions

For ecommerce businesses that have a considerable amount of daily, weekly and monthly volume transactions, they would usually go for eGHL as they offer one of the lowest credit / debit card and FPX transaction fees.

The other option would be MOLPay where those businesses have both an ecommerce and physical presence as MOLPay offers a range of payment processing features across different channels.

Which Payment Gateway Options In Malaysia Should I Choose?

The best Malaysia payment gateway provider really depends on the merchants’ business needs.

If you want something fast and ‘free’ without the hassle of paying setup fees and yearly fees, PayPal Malaysia, Braintree Malaysia and iPay88’s SOHO Plan are suitable.

If you have a tonne of transactions to process for both online and physical retail, then eGHL and MOLPay will be able to meet those needs.

Regardless of volume transactions, it’s vital that any ecommerce business must have an online credit card processing Malaysia feature on their site as majority of buyers prefer to pay with credit / debit cards.

This payment gateway Malaysia comparison chart acts as a guide for new and existing sellers to consider which Malaysia payment gateways can best meet their business needs.

If you have any question or feedback about the mentioned payment gateways, please reach out to us at InstanteStore as we’re constantly working to help businesses sell more online.

Mobile Commerce Set To Skyrocket In South East Asia

My previous article mentioned China’s ecommerce and mobile commerce spending power which they showcase to the world come every November 11th during Singles Day making more than Black Friday and Cyber Monday combined.

South East Asia Is The Next BIG Mobile Commerce Powerhouse

Not far behind with tremendous huge growth and development status would be South East Asia (SEA) which is made up of 11 countries (Brunei, Cambodia, East Timor, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam).

SEA have a total population of 648 million (and growing fast!).

The top countries in this region that is leading the way in massive digital ecommerce spending would be Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam.

Here’s a glimpse of their digital population. If taken as a single bloc, SEA’s large population of digital users can stand in comparison with leading global markets like US, Europe and China for all digital activities (internet, social media, mobile and mobile social) :

According to eMarketer, digital ad-spending for these 6 countries will increase by double digits in 2017 and 2018 while mobile ad spending will more than double during the forecast period surpassing $2.20 billion and accounting for nearly 69% of digital ad expenditures by the year 2021.

Heavy Smartphone Adoption Spurs Mobile Commerce Growth

Thanks to heavy smartphone adoption, Indonesia, Philippines and Vietnam will see the strongest growth in mobile ad spending among SEA.

Why are companies willing to invest so much moolah into mobile ad spending in SEA? Because the region has such a HIGH volume of mobile users which presents a HUGE opportunity for mobile commerce, hence the massive amount allocated for mobile ad spending.

Mobile commerce is skyrocketing in South East Asia as more consumers there are getting more familiar to spending online with their mobile devices.

It’s no wonder that Alibaba bought over Lazada (SEA’s largest ecommerce marketplace) for $1 billion. And not to be left out from a piece of the SEA ecommerce pie, Amazon recently launched in Singapore.

With such tremendous ecommerce growth opportunities, many online businesses have been scrambling to improve their mobile site experience and to ensure that their business is omni-channel to cater to the growing consumer segment from developing countries.

Omni What?

Omni-channel. It means having a multi-channel sales approach providing consumers with a smooth integrated shopping experience.

The customer can be shopping online from a desktop or mobile device where they can easily locate the product from your site or social media with the ability to make payment seamlessly.

With omni-channel, your online business is available and integrated with your brick and mortar (if you have one) where customers can call in to place an order with the phone or complete the checkout process via social media like FB, Twitter, Instagram, etc.

The omni-channel sales experience is crucial to ensure that your customers have a good buying experience be it in person, mobile, desktop and social media.

What Do Businesses Need To Do?

For a start, make sure your online business have a mobile friendly and responsive site so consumers can have a good mobile shopping experience with your site.

Ensure that your business is found on social media like Facebook where visitors can complete their purchase directly in FB without being bounced all over in the checkout process.

If you’re selling items that are :

Fashion related stuff : clothing, accessories, sport wear, eye wear, watches, jewelry, etc
Beauty : skin care, cosmetics
Food & drinks
Baby products
Pet products
Consumer electronics
Auto accessories
(I may have missed out some other categories as these are the main ones)

Please have an Instagram and Pinterest account to upload images of your product being worn and used in every day life scenarios to make it easily shareable.


The new generation of mobile shoppers rely on image heavy social media recommendations from friends.

And they love to share and communicate via mobile.

We have a WhatsApp share feature where visitors can easily share your site and product page to their friends on WhatsApp which is great tool for product recommendations.

If you need help getting your online business to be mobile friendly, omni-channel with a good marketing strategy, contact us and we’ll be more than happy to help.

From the team at InstanteStore to you, Happy Selling as you prepare for the holiday shopping crowd.

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This article will tell you how you can use Instagram to help benefit your business.