Malaysia Online Payment Gateways Comparison (iPay88, eGHL, Stripe, Paypal, billplz, Razer Merchant Services)

Malaysia Online Payment Gateways Comparison

This is one of the most commonly asked questions. In fact, there many payment gateway providers in Malaysia today (i.e. iPay88, Razer Merchant Services (f.k.a MOLPay), eGHL, 2C2P, Kiple, UPay, SenangPay etc.). If this is something new to you, you may not have any idea which one to choose for your ecommerce website. Search no further, we have compiled some of the crucial information so that you can do a Comparison Between Payment Gateway Service Providers In Malaysia here. We hope these information will help you decide which is the most suitable package for your online business. Let’s compare now!

We compare 6 popular payment platforms in Malaysia and how to choose the right one for your small business.

Merchant Providers	ipay88	eghl	stripe	Paypal	billplz	RazerMerchantServices
Setup Fee	iPay88 SME Plan – RM 488 iPay88 Individual/SOHO Plan – RM 488	On-boarding Fee* – RM499 On-boarding Fee* – RM5000 On-boarding Fee* – RM10000	FREE	FREE	Basic: Free Standard: RM 3,180/year	Lite Plan: RM 499 Premium Plan: RM 400
Annual Fee	iPay88 SME Plan – RM 500 (No Hidden Charge) iPay88 Individual/SOHO Plan – Waived	*On-boarding Fee – RM499 :– RM 25.00 Monthly – (Waived if transaction volume exceeds RM 15k per month) On-boarding Fee* – RM5000 : RM- 599.00 (Waived if transaction volume exceeds RM 180k per year) On-boarding Fee* – RM10000 :** MY- 599.00 (Waived if transaction volume exceeds MR 180k per year)	FREE	FREE	FREE (Basic Plan)	Lite Plan: RM 99 (waived for the first year) Premium Plan: RM 499
Payment method (Online banking)	SME – 3.5% per transaction or minimum RM 0.60 whichever is higher for online banking (e-debit) SOHO – 3.5% per transaction or minimum RM 0.60 whichever is higher for online banking (e-debit)	FPX *On-boarding Fee – RM499 :* 2.5% or RM 0.60 per transaction via FPX (Whicheever is higher) *On-boarding Fee – RM5000 : 2.0% or MYR 0.60 per transaction (Whichever is higher) On-boarding Fee* – RM10000 :** 1.8% or MYR 0.60 per transaction (Whichever is higher)	3.0% + RM 1.00 per paid transactionon via FPX Fees exclude SST.	Domestic 3.9% + RM2.00 Cross border 4.4% + Fixed fee based on the currency received	FPX B2C RM 1.00 per transaction (basic package)Standard package RM0.50	Lite Plan: 3.8% or min. RM 0.60 whichever is higherPremium Plan: (B2B) 2.4% or min. RM 0.60 whichever is higher (B2C) RM 2.00
Payment method (Credit card & eWallet)	SOHO : E-wallet:1.0% – Maybank QR, Boost wallet 1.5% – GrabPay, ShopeePay, Touch ‘n Go, Boost, MCash, NetsQR 2.0% – KipplePaySME : Credit Card:Visa & MasterCard- MDR 2.9% Debit Card: Visa & MasterCard-MDR 2.8% UnionPay Credit/Debit card: Visa & MasterCard-MDR 2.8% E-wallet:1.0% – Maybank QR 1.5% – GrabPay, ShopeePay, Touch ‘n Go, Boost, MCash, NetsQR E-wallet 1.0% – Maybank QR, Boost wallet 1.5% – GrabPay, ShopeePay, Touch ‘n Go, Boost, MCash, NetsQR 2.0	*On-boarding Fee – RM 499:Cards Scheme :2.5%, MYR processing ( 2%, non-MYR processing and MYR 0.50 for ticket sizee-Wallet :1.3% per transaction – Boost, GrabPay1.3% per transaction – MCash, Touch ‘n Go1.3% per transaction – MAEBuy Now Pay Later: GrabPayLater Postpaid – 6% per transaction PayLater Instalment – 8% per transaction On-boarding Fee – RM 5000:Cards Scheme :2.0%, MYR processing ( 1%, non-MYR processing and MYR 0.50 for ticket sizee-Wallet1.3% per transaction – Boost, GrabPay1.3% per transaction – MCash, Touch ‘n Go1.0% per transaction – MAEBuy Now Pay Later: GrabPayLater Postpaid – 6% per transaction PayLater Instalment – 8% per transaction On-boarding Fee – RM 10000:**Cards Scheme :1.8%, MYR processing ( 1%, non-MYR processing and MYR 0.50 for ticket sizee-Wallet1.2% per transaction – Boost, GrabPay1.2% per transaction – MCash, Touch ‘n Go1.0% per transaction – MAEBuy Now Pay Later: GrabPayLater Postpaid – 6% per transaction PayLater Instalment – 8% per transaction	3% + RM1.00 per paid transaction on VISA / Master card, additional 2% fee for currency conversionFees exclude SST.	Domestic 3.9% + RM2.00 per paid transaction on VISA / Master card / American Express	Basic – 2.2% (per paid transaction)Standard – 2.2% (per paid transaction)	Credit Card Lite Plan: 3.8% Premium Plan: 2.4% E-wallet Lite Plan: N/APremium Plan: 1.2% – Maybank QR 1.4% – GrabPay, ShopeePay, Touch ‘n Go 1.6% – Boost
Supported Currencies	RM only	RM (MYR), RM 500 setup for each foreign currency	International Currencies	International Currencies	RM only	RM only
Withdrawal Method	Transfer to local bank (weekly)	Transfer to local bank (weekly)	Transfer to local bank (weekly/monthly)	Transfer to local bank / visa cardPayment into Paypal Account Instantly.	Next day (T+1)	Transfer to local bank (weekly)
Received money in local bank	Yes	Yes	Yes	Yes	Yes	Yes
Bank Transfer and other payment services	SOHO :Alliance OnlineAm OnlineCIMB ClicksAEON OnlineHong Leong OnlineMaybank2uRHB OnlineFPX (Maybank2U, HL Online, RHB Online, Bank Islam, PbeBank, CIMB Clicks)SME :Alliance OnlineAM OnlineCIMB ClicksAEON OnlineHong Leong OnlineMaybank2uRHB OnlineFPX (Maybank2U, HL Online, RHB Online, Bank Islam, PbeBank, CIMB Clicks)	Malaysia Online Bank TransferMayBank2UCIMB ClicksRHB OnlineHL OnlineAlliance OnlinePbeBankAmBankBank IslamUOBAffin OnlineBank RakyatMuamalatOCBCStandard CharteredKFHOther Country Debit	FPX (Maybank2U, HL Online, RHB Online, Bank Islam, PbeBank, CIMB Clicks)	N/A However, a customer can top up his / her Paypal accounts via online bank transfer.(Eg RHB Bank Online Transfer to top up)	Malaysia Online Bank TransferAlliance OnlineAm OnlineCIMB ClicksAeon OnlineHong Leong OnlineRHB OnlineFPXOther Payment MethodsShoppeePayBoost WalletGrabPayTouchnGo payMaybank QRpay	Maybank2UCIMB Clicks Hong Leong Connect Public Bank PBe RHB Now Alliance Online Affin Online Bank Islam Online UOB Bank Online OCBC Bank Online Standard Chartered Bank Online AmOnline I-Rakyat I-Muamalat Kuwait Finance House Bank Simpanan National Online HSBC Online Other Payment Services Razer Cash at 7-Eleven Buy Now Pay Later (BNPL -Atome, -Rely, PayLaterby Grab, IOUPay) 99 Speed Mart KK Speed Mart Cryptocurrencies: Bitcoin Ethereum Tether(USDT)
Supported cards	VISAMaster cardUnionPayAmerican Express	VISA and Master card	VISA and Master cardUnionPayLinkMaestroAmerican Express	VISA cardMaster cardDiscoverAmerican Express	VISA cardMaster cardUnionPay	VISA cardMaster cardPayNet MyDebitUnionPayDiscover/Diners
Minimum amount for withdrawal	RM 100	No Minimum withdrawal amount	RM 5	RM 40	N/A	Startup: RM100SME: RM100
Application Approval Time	Within 14 working days (for internet bank transfer)2 to 3 months (for credit card gateway)	Credit Card: within 2 monthsOnline Banking: 7 – 14 working days	Immediate	Immediate (Get Your Credit Card ready to verify your PayPal Account)	Basic – The application may take ten (10) business days – upon complete documentation.Standard – The application may take fourteen (14) business days – upon complete documentation.	Credit Card: within 1 monthsOnline Banking: 3-5 working days
E-Wallet	AlipayBoostGrabPayMAE(M2U)NETSPrestoPaySetelShopee PayTNGUnionPayWeChatPayGooglePay	BoostGrabPayMCashTNGMAE(M2U)Atome	GrabPayApplePayClick To PayGooglePay	N/A	ShopeeApplePayClick To PayGooglePay	TNG DigitalBoostGrabPayShopeePayMAE (M2U)WeChat PayAliPayDuitNowQRCrossborder
E-commerce Platform Integrations	Shopify WooCommerce, EasyStore, cubecart, Ecshop, Ecwid, Interspire, JustSimple, AdobeCommerce Cloud, Opencart, Oscommerce, Prestashop, Shopex, Shopmatic, Sitegiant, Ubercart, VirtueMart, webShaper, Whmos, Zen cart	Shopify, WooCommerce, EasyStore, Squarespace, Fiverr	Shopify, WooCommerce, EasyStore, Squarespace, Magento, RapidCloud, VirtueMart, Opencart, PrestaShop, Zen cart, J2store, Shoptimize, Oscommerce, Zenoti, HikaShop, myBizCart	Shopify, WooCommerce, EasyStore, Squarespace, Magento, RapidCloud, VirtueMart, Opencart, PrestaShop, Zen cart, J2store, Shoptimize, Oscommerce, Zenoti, HikaShop, myBizCart	Shopify WooCommerce, EasyStore, Exabytes, Sitegiant, Instaweb, OnPay, travelport galileo, PrestaShop, webShaper, amaxMall	Shopify, WooCommerce, EasyStore, Avana, Cs.cart, Cubecart, Drupal commerce, EasyStore, Ecshop, eStore, Shopline, Instant store, Interspire, Magento, Net Shop, Opencart, ShopEx, Sitegiant, VirtueMart, Web Ninja, Web shaper, Xcart, myBizCart, PrestaShop, Good maji

*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.

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