Top Payment Gateways
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The Top 10 Payment Gateways in Malaysia

Security, to ensure the payment gateway is secured to keep all personal information safe.
Compatibility, based on devices, types of cards, and currencies accepted because customers won’t use the same things when paying.
Cost, including competitive transaction and setup fees, so business owners can find the most cost-effective solutions.
Customer Support, in case of problems so the business owner can get the technical assistance they need within the standard working hours.

As a business owner, one of the things you need to consider is how to properly and safely transfer payments from shopper to merchant. In this day and age, a payment gateway in Malaysia can help advance security when doing cross-border transactions.

In this article, we’ve reviewed Malaysia’s top payment gateways to help you find the right one for your business – online or not – for secure payment transactions by cards, e-wallets, or even links! 

How much do payment gateway services cost in Malaysia?

Payment gateway services are crucial for running your business online in Malaysia. They cost money because they’re not for free.

To give you a better idea, we’ve made a table of the standard payment gateway fees and their average cost because the last thing any merchant wants is for their profits and earnings to be taken away by expensive and hidden fees.

Service Average Cost
Setup FeeRM300 - RM500
Annual FeeRM99 - RM500
Commission per Transaction2 - 3%
Charges on RefundsFree - 3%

1. eGHL

eGHL Homepage
SERVICESCredit Card, Online Banking, E-Wallet payments, O2O, Payouts Support
ADDRESSC-G-15, Block C, Jalan Dataran SD1, Dataran SD, PJU 9, Bandar Sri Damansara, 52200 Kuala Lumpur, Malaysia
CONTACT DETAILS+603-6286 5222
OPERATING HOURSMonday-Friday: 9:00 am-6:00 pm
SETUP FEERM399 (Starter)RM599 (Small biz)
ANNUAL FEE1st year waived, 2nd year onwards is RM399 (Starter)1st year waived, 2nd year onwards is waived if the transaction is over RM60,000/year (Small biz)
COMMISSION (per transaction)2.8% (Starter)2.5% (Small biz)
REFUND CHARGES2.8% (Starter)2.5% (Small biz)
ACCEPTED PAYMENT METHODSVisa, Mastercard, credit and debit cards, e-wallets, Malaysia bank transfers
SUPPORTED E-COMMERCE PLATFORMSEasyStore, SiteGiant, WooCommerce, Shopify
ONBOARDING TIME7 – 14 working days
Security★★★★☆ (4/5)
Compatibility★★★★☆ (4/5)
Device compatibility★★★★☆ (4/5)
Types of cards★★★★☆ (4/5)
Currencies★★★☆☆ (3/5)
Cost (A higher score means better value)★★★★☆ (4/5)
Customer Support★★★★☆ (4/5)

One of the things we like about eGHL is it’s an online payment solution created specifically for online businesses in Southeast Asia. They work with both up to 100 card and non-card payment channels.

If your business uses eCommerce sites like EasyStore or SiteGiant, you can integrate this gateway easily, thanks to their user-friendly plugins, API, and SDK.

One of the aspects of eGHL that made an impression on us is the easy integration. It’s quick to incorporate into e-commerce platforms, which benefits not-so-tech-savvy sellers.

Even sellers with physical shops can use cashless payment options. We were glad to find that it only takes two hours to install eGHL on a POS terminal.

In addition, there’s automatic integration once eGHL adds a new payment method. This prevents merchants from going through another installation process, so you won’t have to worry about updating again!

(Photo source: GHL)

As for security, we like the two-factor authentication process. The bank will send an OTP, or one-time password, to the shopper’s mobile number to prevent fraudulent transactions.

Honestly, it’s an important way to prevent fraud, especially in a technologically-advanced world. Plus, they have a PCI DSS-certified card tokenization that will secure card details so those annoying fraudsters won’t get it – impressive!

They also offer buyers an option to go for scheduled payments. We think this feature is pretty convenient, too, because the business can automatically collect the payments.

A minor drawback is it’s limited to Southeast Asia only. For us, it makes reaching a wider audience a tad difficult for small and medium-sized businesses.

Just a heads up: eGHL charges RM0.50 for refunds per transaction. If you own a small business, make sure everything on your website is correct to avoid refund charges.


  • Works with many card and non-card payment channels
  • User-friendly plug-ins
  • Easy flowing payment systems
  • Offers scheduled payment system


  • Limited to Southeast Asia
  • Has refund charges

2. iPay88

iPay88 Homepage
SERVICESE-commerce payment, retail payment, O2O, payouts support
ADDRESSSuite 2B-20-1, 20th Floor, Block 2B, Plaza Sentral, Jalan Stesen Sentral 5, 50470 Kuala Lumpur, Malaysia
CONTACT DETAILS+603 2261 4668
OPERATING HOURSMonday-Friday: 9:00 am-6:00 pm
SETUP FEERM488 (SME)RM488 (Startup)
ANNUAL FEERM500 (SME)Lifetime zero fee (Startup)
COMMISSION (per transaction)2.9% (SME)3.5% (Startup)
REFUND CHARGESNo extra charges
ACCEPTED PAYMENT METHODSVisa, Mastercard, credit and debit cards, Malaysia bank transfers, e-wallets
SUPPORTED CURRENCIES13 currencies (multi-currency supported in iPay88 payment gateway)
SUPPORTED E-COMMERCE PLATFORMSWooCommerce, Shopify, Easystore, etc.
ONBOARDING TIME7 – 14 working days (internet bank transfer)1 – 2 months (credit card gateway)
Security★★★★☆ (4/5)
Compatibility★★★★☆ (4/5)
Device compatibility★★★★★ (5/5)
Types of cards★★★★★ (5/5)
Currencies★★★☆☆ (3/5)
Cost (A higher score means better value)★★★★☆ (4/5)
Customer Support★★★★☆ (4/5)

iPay88 is a payment gateway that impressed our team because it offers convenient services to merchants and shoppers. It’s a beneficial technology to add to your website.

Why did it impress us? Mainly because it provides secure payment, whether on mobile or desktop, making shopping an easy feat.

Also, it’s safe to say it’s pretty easy to integrate iPay88 into your online presence offers because of its innovative payment solutions through Mobile Apps, POS integration, and terminals.

If your business offers services or subscriptions, you’ll be glad to know that this payment gateway offers options for recurring payments. Our team found this pretty convenient for subscription fees, donations, and bills (can’t forget about that one!).

You can even provide your customers with payment links through emails or direct links on your website or social media page. These options come with e-invoices automatically sent to your customer—convenient, right?

Another plus in our books is that, with iPay88, customers can pay with up to 37 payment channels, including all major Malaysian banks, credit and debit cards, Paypal, GrabPay, ShopeePay, Alipay, PrestoPay, and more! 

Your customers can also be enticed to purchase items since you can also have a buy now, pay later option!

Plus, there are no extra charges for refunds. Isn’t that neat? Other payment gateways in Malaysia charge per refund transaction, so this was impressive for our team.

However, our team has learned over the years that there are downsides to all good things. Sadly, iPay88 has a higher setup fee compared to other payment gateways online.

Also, it doesn’t offer to waive the annual fee for small and mid-size enterprises (SME), even in the first year. On the other hand, startups get zero annual fees for life!


  • Offers recurring payments
  • Zero annual fees for startups
  • Supports many payment channels
  • As a buy now, pay later option


  • Charges higher setup fees
  • Has annual fees for SMEs

3. Worldpay

Worldpay Homepage
SERVICESCredit and debit cards, online Banking, e-wallet payments, payouts support
CONTACT DETAILS[email protected]
ANNUAL FEEFree (Pay as you go plan)£19.95 / month (monthly subscription plan)
COMMISSION (per transaction)2.75% + £0.20
REFUND CHARGESNo extra charges
ACCEPTED PAYMENT METHODSVisa, Mastercard, credit and debit cards, Malaysia Bank transfer, contactless, e-wallets
SUPPORTED E-COMMERCE PLATFORMSWooCommerce, Shopify, Magento, BigCommerce, WP Commerce
ONBOARDING TIME5 working days
Security★★★★☆ (4/5)
Compatibility★★★★☆ (4/5)
Device compatibility★★★★☆ (4/5)
Types of cards★★★★★ (5/5)
Currencies★★★★★ (5/5)
Cost (A higher score means better value)★★★☆☆ (3/5)
Customer Support★★★★★ (5/5)

Worldpay is an American payment gateway that’s so widely used in Malaysia (and other countries!) that we wanted to include it on this list. Its global reach is pretty impressive, in our opinion.

Worldpay’s goal was to create a payment gateway with a seamless design. This is good news for consumers because it would be easy to use on your desktop, tablet, or phone.

We also like how it provides real-time updates on order data, and you can even export it anytime. If you ever need to issue a refund, all you need to press is a button, so there are no headaches in that department.

As soon as you sign up with them and add their API to your website, you can receive payments within 24 hours. Honestly, that’s a quick and easy process!

Oh, you can also use a pay-by-link option, which in our opinion, can benefit sellers without websites or physical stores. You can email the link to your customers so they can pay online.

Plus, it supports over 120 currencies! That’s something our team found impressive because many small businesses and consumers can use this payment gateway.

In addition, its wide reach means more customers and better solutions for small and medium-scale businesses. It helps that it supports over 300 payment types worldwide.

Another reason we like Worldpay is the 24/7 customer support. It provides assistance in many languages, which is a convenient service for us.

Our team likes the free setup fee. And did you know that there are no refund charges? That’s a plus in our book!

But it’s unfortunate that all good things must come to an end. We found that it has a higher commission rate than other payment gateways in Malaysia. On top of that, it adds another £0.20.

It’s also important to take note of the monthly subscription plan, which can be expensive depending on the current exchange rate. It’s in pounds, too, meaning it is expensive!


  • No setup fee charges
  • Offers recurring payment plans
  • Provides real-time updates
  • Supports over 120 currencies
  • Has 24/7 support in multiple languages


  • Charges higher commission rates
  • Expensive monthly subscription plan

Reliable payment gateway

“Worldpay have been a reliable part of our business for a number of years & provided a problem-free payments solution for the entirety of our contract.” – Robin Hodgson, Trustpilot Reviews

Great customer support

Sudhir Patel helped me to set up the account very quickly. Everytime I needed a help, he was quick to help me. Good rates, good service. I can only recommend it.” – Zoltan, Trustpilot Reviews

4. Stripe Payments

Stripe Payments Homepage
SERVICESOnline payments, tax, invoicing, billing
CONTACT DETAILS[email protected]
COMMISSION (per transaction)3% + RM1.00
REFUND CHARGESDepending on fee schedule
ACCEPTED PAYMENT METHODSVisa, Mastercard, credit and debit cards, FPX, buy now pay later, e-wallets
Security★★★★☆ (4/5)
Compatibility★★★★☆ (4/5)
Device compatibility★★★★☆ (4/5)
Types of cards★★★★☆ (4/5)
Currencies★★★★☆ (4/5)
Cost (A higher score means better value)★★★★☆ (4/5)
Customer Support★★★★★ (5/5)

When our team did a Malaysia payment gateway comparison, we looked into those that offer support for SME.

That’s why we included Stripe Payments, a payment gateway that seeks to support all sorts of businesses as they grow in their online standings. 

Whether your business is retail, subscription-based, on marketplaces, or on a software platform, we think Stripe Payments is a good option. 

Their short onboarding time, which is about 1 to 2 days, also earns them plus points in our books!

Moreover, our team found that it’s easy to integrate into e-commerce platforms. For those who use sites like WooCommerce, NetSuite, and Shopify, Stripe has pre-built integrations, making it easy to pay.

We’d like to note that our team found this to be one of the easiest integrations for Shopify’s software. There’s no need to contact the developers, making it quick to use.

Another thing we like about Stripe is that sending payouts and accepting payments is easy. And for added functionality, you even get business management tools—kind of like a payroll service, don’t you think?

We also appreciate that it supports major banks for credit and debit card payments. Additionally, it supports digital wallets and bank transfers through FPX in Malaysia.

But, one of its main aspects that we loved is the recurring billing option. For us, its best feature is that it automatically sends out emails to consumers in case of failed payments.

However, a downside we found is there are refund charges depending on the fee schedule of the business. In our opinion, the lack of fixed fees can deter some clients.

Our team also noticed that conversion charges are higher than other payment gateways. Sadly, we think this is bad news for small businesses.

On a good note, Stripe has an active and helpful customer support team. Aside from our good experiences with them, many of the Stripe users we spoke with mentioned they liked how they responded quickly, which they found really helpful and efficient!


  • Quick onboarding time
  • Easy integration to e-commerce platforms
  • Has recurring billing option
  • Automatically sends out emails for failed payments
  • Quick support team


  • Refund charges depend on the fee schedule
  • Has higher conversion charges

Provides great support

We just had our first request for support and the flow and process was amazingly smooth, professional, and timely. They carried out the request very fast and everything was dine quickly.” – Mehrdad F., Trustpilot Reviews

Simple and easy platform

It’s an impeccable app that I at least fell in love with, the first time I got something exactly what I wanted. Everything is simple if you learn to read the help notes, great attention they work very well and are very carefully designed. 

Congratulations and thank you.” – Stefan Tolos, Trustpilot Reviews

5. PayPal

PayPal Homepage
SERVICESOnline payments, e-wallet, email payments
CONTACT DETAILS+60-3-77237155
OPERATING HOURSMonday-Friday: 9:00 am-6:00 pm
COMMISSION (per transaction)3.9% + RM2.00 (domestic)4.4% + Fixed fee based on the currency received (cross-border)
REFUND CHARGESNo extra charges
ACCEPTED PAYMENT METHODSVisa, Mastercard, credit and debit cards, Malaysia bank transfer
SUPPORTED E-COMMERCE PLATFORMSShopify, EasyStore, Magento, BigCommerce, WooCommerce, and others
Security★★★★★ (5/5)
Compatibility★★★★☆ (4/5)
Device compatibility★★★★★ (5/5)
Types of cards★★★★☆ (4/5)
Currencies★★★☆☆ (3/5)
Cost (A higher score means better value)★★★★☆ (4/5)
Customer Support★★★★☆ (4/5)

Of course, what’s a payment gateway article without the mention of PayPal? Paypal is a long-established and one of the most famous payment gateways in the world.

You probably know about the personal accounts you can make on PayPal, but what we’ll discuss here is their business account.

One of our favorite pros of using PayPal is the easy setup process. Everything is quick to customize, which we think definitely benefits small business owners.

Also, being a famous payment gateway means reaching a wider audience. PayPal’s reputation can help small and medium-sized businesses in Malaysia attract customers overseas, which is a huge plus!

Additionally, our team found it convenient that there are no penalties or service fees in case your business doesn’t generate sales for a time – kind of like a digital bank

We also like that PayPal is easy to integrate into e-commerce platforms because, apart from being easy to use, it’s famous worldwide. Frankly, we believe these benefits are essential for small businesses.

If you’re a freelancer selling on social platforms, your own PayPal link is all you have to share with your customers. We find this feature helpful as you don’t have to give out your bank details—gotta keep those private!

Furthermore, if you have a website, you just have to add a PayPal button, and the money will be sent directly to your PayPal account. Easy peasy!

However, our team found it disappointing that PayPal only accepts 23 currencies. It sounds like a lot, but we were dissatisfied since it’s a payment gateway with a global reach.

Be ready for the high transaction fees too. There’s a charge of about 2.9% plus a fixed fee for credit card payments, which we think is a bit heavy for small businesses and freelancers.


  • Known worldwide
  • Straightforward setup process
  • Easy integration to e-commerce platforms
  • No penalties for no sales


  • Has high transaction fees
  • Supports limited currencies

Easy implementation

“Love the ease of use and the ease of implementation/integration within other websites and platforms to capture payment.” – Emily S., Get App Reviews

Seamless transactions

PayPal is a great tool that allows for incoming and outgoing cash exchange in a seamless way. It is easy to idea and very secure.” – Ridhima T., Get App Reviews

6. Billplz

Billplz Homepage
SERVICESOnline payments, e-wallet, online banking
ADDRESSK03-11-13, Level 11, Tower 3, UOA Business Park, 40150 Shah Alam, Malaysia
CONTACT DETAILS[email protected]
OPERATING HOURSMonday-Friday: 10:00 am-4:00 pm
ANNUAL FEEFree (Basic)RM5,300/year (Standard)
COMMISSION (per transaction)RM1.00 (Basic)RM0.50 (Standard)
REFUND CHARGESNo extra charges
ACCEPTED PAYMENT METHODSVisa, Mastercard, credit and debit cards, Malaysian Bank transfer, online banking
Security★★★★☆ (4/5)
Compatibility★★★☆☆ (3/5)
Device compatibility★★★★☆ (4/5)
Types of cards★★★★☆ (4/5)
Currencies★★★☆☆ (3/5)
Cost (A higher score means better value)★★★★☆ (4/5)
Customer Support★★★☆☆ (3/5)

Next on our list is one of the most affordable payment gateways we found in Malaysia, Billplz. This homegrown fintech company launched its service in 2012, and despite being small compared to others, it now has 16 payment partners—impressive growth, right?

Our team was quite happy to learn that it offers three membership plans, which is pretty convenient. Our favorite one is its basic plan with no monthly fees, which is suitable for small and new businesses.

There’s also a membership plan that you can customize. Although the prices vary for this plan, we like that it offers a bunch of benefits, like a dedicated account manager for customer support.

Regarding customer support, those with the basic and standard plans will get assistance via email or Google Meet. Sadly, we were a bit disappointed to find that their customer support works a bit slowly.

Furthermore, some businesses waited weeks to get approval. Unfortunately, poor customer support seems to be a common occurrence in businesses with basic plans.

We must mention, too, that Billplz only supports one currency: MYR. Due to this, some shoppers may opt to look elsewhere that supports other currencies.

On the other hand, one of Billplz’s positive aspects that made an impression on us was the customization capabilities of the payment page. We like this as it allows businesses to have unique elements to make payments easily recognizable.

Another advantage to Billplz is that it doesn’t have refund charges. Plus, it has lower commission rates per transaction than other payment gateways we looked into.


  • Low commission fees
  • Offers flexible membership plans
  • Has a customizable membership plan
  • Has no refund charges


  • Issues with slow customer support
  • Supports only MYR

Great for small businesses

“Easy to integrate. Used by a lot of Malaysian businesses. Startup-friendly pricing.” – David Wong, Google Reviews

Affordable pricing

“Very easy to apply. Good service when I need them to act on some issues. Cheap rates so it doesn’t ‘kill’ my profit.” – Shnadia, Trustpilot Reviews

7. 2C2P

2C2P Homepage
SERVICESOnline payments, e-wallets, over-the-counter
ADDRESSUnit 18-3, Level 18, Tower B, Vertical Business Suite, Avenue 3, Bangsar South, No 8 Jalan Kerinchi, 59200 Kuala Lumpur
CONTACT DETAILS+603 27164523; [email protected]
COMMISSION (per transaction)2.5% – 3% per transaction (credit cards)RM1.50 flat rate (bank transfers)
ACCEPTED PAYMENT METHODSVisa, Mastercard, credit and debit cards, Malaysia bank online transfer, Alipay, GCash, Grab, LINE Pay, KakaoPay, Apple Pay, Google Pay, WeChat Pay, Samsung Pay
Security★★★★☆ (4/5)
Compatibility★★★★☆ (4/5)
Device compatibility★★★★☆ (4/5)
Types of cards★★★★☆ (4/5)
Currencies★★★★★ (5/5)
Cost (A higher score means better value)★★★★☆ (4/5)
Customer Support★★★★☆ (4/5)

What we like about 2C2P is it has over two decades of experience in the industry. It’s also a Southeast Asian company, which we admire because our team believes in supporting our own.

In fact, we were quite impressed that 2C2P has expanded its operations outside of Southeast Asia. It’s currently building a presence in Europe and the US, which means more currencies to support.

2C2P supports over 250 payment methods, from credit cards to e-wallets. It also conveniently accepts major credit and debit cards, which most people use.

But one of our favorite aspects is the multitude of digital wallets it works with. It even accepts some e-wallets that other payment gateways don’t, like GCash, Samsung Pay, and KakaoPay.

In addition, the easy payment options are great for small businesses (and shoppers!). Even if you don’t have a website, you can accept payments through a link sent via email or other messaging platforms.

On top of that, buyers can choose to pay in their preferred currency. Our team was pretty happy about this because it can help save some money depending on the current exchange rate if you’re overseas.

Another aspect we like is that 2C2P also offers virtual and physical cards. It’s easy to top up and has a global reach, so you can use it while vacationing abroad!

But do note that they have a pricier setup and annual fee, sadly. Furthermore, the commission rate is just a tad higher for credit card payments, which may be a turn-off for some.


  • Easy to use
  • Expanding its services globally
  • Supports many digital wallets
  • Offers visual and physical cards


  • Higher commission rate on credit card payments
  • Has a setup and annual fee

8. senangPay

senangPay Homepage
SERVICESOnline payments, e-wallets, pay2phone
ADDRESSUnit K03-10-3A, UOA Business Park, No.1 Jalan Pengaturcara, U1/51A, Seksyen U1, 40150 Shah Alam.
CONTACT DETAILS03-2771-2707; [email protected]
OPERATING HOURSMonday-Friday: 9:00 am-5:30 pm
ANNUAL FEERM300 (Starter)RM450 (Advanced)RM1,500 (Special)RM450 (Stripe)
COMMISSION (per transaction)2.5% or a minimum of RM0.65, whichever is higher (credit and debit cards)1.5% or a minimum of RM1, whichever is higher (FPX)1.8% or a minimum of RM0.65, whichever is higher (special package)
REFUND CHARGES1.5% (credit and debit cards)
ACCEPTED PAYMENT METHODSVisa, Mastercard, credit and debit cards, Bank Islam, Malaysian bank transfers, major e-wallets in Malaysia
SUPPORTED CURRENCIESMYR (other currencies via the Stripe package)
SUPPORTED E-COMMERCE PLATFORMSWooCommerce, Shopify, OpenCart, PrestaShop, EasyStore, SiteGiant
ONBOARDING TIME7 days and subject to bank approval
Security★★★★★ (5/5)
Compatibility★★★★☆ (4/5)
Device compatibility★★★★★ (5/5)
Types of cards★★★★★ (5/5)
Currencies★★★★☆ (4/5)
Cost (A higher score means better value)★★★★★ (5/5)
Customer Support★★★★★ (5/5)

Our favorite factor about senangPay is its security. For your peace of mind, we’re happy to report that it’s registered with the Bank of Negara of Malaysia and complies with the PCI DSS.

Our team was glad to learn about its four packages for businesses in Malaysia since these options give businesses a variety of options. 

The lowest plan is only RM300, which is suitable for merchants selling on social media platforms like Instagram and Facebook. Although it has basic features, we like its affordability!

We also think it’s noteworthy that senangPay partnered with Stripe payments to help businesses have a global reach. What we like most about this plan is its 72-hour approval and affordability, at only RM 450—perfect for e-commerce platforms.

However, despite having a global reach with the Stripe package, we found that it has various limitations. For instance, there’s no recurring billing available for that and no payment forms for discounts or promos.

Nonetheless, we found that senandPay is still cheaper than other popular payment gateways for websites, even with its annual charges.

Our team was also glad about the easy integration process. It even supports payment buttons and forms for easy access.

Another senangPay service that made an impression on our team is the pay2phone collaboration with Bank Islam. It’s a fast payment method for buyers with NFC-enabled smartphones (and you don’t have to wait in long lines!).

But you should know they charge 1.5% on credit and debit card refunds. And sadly, they don’t accept refunds on FPX transactions, which can be a hassle for some businesses.


  • Affordable annual fees
  • Has partnered with Stripe for a global reach
  • Easy integration process
  • Has pay2phone service


  • Stripe package has limited services
  • No refunds for FPX transactions

9. PayHalal

PayHalal Homepage
SERVICESOnline banking, e-wallets
ADDRESSUnit 50-2-7 Wisma UOA - Damansara 1, 50 Jalan Dungun, Damansara Heights, 50490 Wilayah Persekutuan, Malaysia
CONTACT DETAILSOnline contact form; [email protected] (sales)
SETUP FEEFree (pay-per-use)RM280 (Platinum pro)RM280 (SME gold)
ANNUAL FEEFree (pay-per-use)RM1,200/year (Platinum pro)RM365/year (SME gold)
COMMISSION (per transaction)2.80% + RM1.00 (pay-per-use, credit cards)2.60% + RM2.00 (pay-per-use, FPX)2.40% (Platinum pro, credit cards)1.88 – 2.00% + RM2.00 (Platinum pro, FPX)2.60% (SME gold, credit cards)2.40% + RM2.00 (SME gold, FPX)
REFUND CHARGESXED fee (for full refunds)Partial percentage (for partial refunds)
ACCEPTED PAYMENT METHODSVisa, Mastercard, credit and debit cards, Malaysian bank transfers, e-wallets
SUPPORTED E-COMMERCE PLATFORMSIslamic e-commerce platforms
Security★★★★★ (5/5)
Compatibility★★★★☆ (4/5)
Device compatibility★★★★★ (5/5)
Types of cards★★★★☆ (4/5)
Currencies★★★★☆ (4/5)
Cost (A higher score means better value)★★★★☆ (4/5)
Customer Support★★★★☆ (4/5)

Quite possibly, the best aspect of PayHalal is being the first Shariah-compliant payment gateway in the world. That’s an impressive feat, which definitely got our attention.

You see, when using an online platform, there’s no guarantee that it follows the same principles as you do.

So, we decided to include PayHalal because of the assurance that it excludes getting funds from alcohol, gambling, pork products, and weapons sales—a big plus for conscious consumers!

Additionally, you won’t have to worry about safety because PayHalal creates random security codes to secure your account (on top of being PCI DSS compliant).

We also like that PayHalal offers various membership plans. One is even pay-per-use, which small businesses in Malaysia can benefit from.

Other than that, it supports Islamic banks. It’s worth mentioning that we found that many people like how PayHalal makes the process seamless for Muslims, based on our surveys.

Another aspect we found admirable is the donate button you can use on PayHalal’s e-commerce platform. Our team was impressed because it’s not something most payment gateways offer.

Additionally, we like that merchants will receive real-time notifications via email or SMS. We think of this as a security feature as well because businesses will know what happens with their accounts. 

PayHalal also offers recurring payments for the convenience of customers. It’s also worth mentioning that it has a buy now, pay later option, which is Shariah-compliant.

Unfortunately, we were a bit shocked by the transaction fees. Each plan has a percentage and an additional charge, even the cheapest one.

Also, there are charges for refunds. These charges will depend on the final product costs, so the higher the price means the higher the refund charge, which can be a turn-off for some businesses.


  • A Shariah-compliant payment gateway
  • Provides real-time notifications
  • Has a recurring payment option
  • Offers buy now, pay later option


  • Slightly higher transaction fees
  • Charges for refunds

10. Razer Merchant Services

Razer Merchant Services Homepage
SERVICESOnline payments, e-wallets, cash payments
ADDRESSJ-39-1, Block J, Persiaran Multimedia, CityPark, i-City, 40000 Shah Alam, Selangor D.E., Malaysia
CONTACT DETAILS+60 3-5521 8438; [email protected]
OPERATING HOURSMonday-Friday: 9:00 am-6:00 pm
SETUP FEERM499 (Lite)RM400 (Premium)
ANNUAL FEERM99, waived for 1st year (Lite)RM499 (Premium)
COMMISSION (per transaction)3.8% (Lite, credit cards)2.4% (Premium, credit cards)3.8% or a minimum of RM0.60, whichever is higher (Lite, online banking)2.4% or a minimum of RM0.60, whichever is higher (Premium, online banking)1.4% (Premium, e-wallet)
REFUND CHARGESNo extra charges
ACCEPTED PAYMENT METHODSVisa, Mastercard, credit and debit cards, Malaysia bank transfers, Razer Cash
ONBOARDING TIME3 – 5 working days (online bank transfer)1 – 2 months (credit cards)
Security★★★★★ (5/5)
Compatibility★★★★☆ (4/5)
Device compatibility★★★★★ (5/5)
Types of cards★★★★☆ (4/5)
Currencies★★★★☆ (4/5)
Cost (A higher score means better value)★★★★☆ (4/5)
Customer Support★★★★★ (5/5)

Our team decided to include Razer Merchant Services because of its global reach among merchants and consumers. Based on what we’ve seen, it’s a robust payment gateway that can handle many transactions at a time.

It even supports famous shopping apps like Shopee, Lazada, and Taobao. Impressively, it can handle a high sales volume (imagine thousands of shoppers simultaneously!), even during the famous single’s day – 11.11.

Another advantage that Razer Merchant Services has is the seamless system. Buyers don’t have to leave the seller’s site to pay because you can do it in-page!

Plus, we like that it has automated charging to prevent late payments. We think this feature is a great way to have a subscription-based service on your website. 

In our books, one of the benefits of using Razer Merchant Services is the use of Razer Cash. It’s a non-card payment option for those who want to avoid risking the security of their credit cards.

It’s also easy to pay for the products you buy because you can use Razer Cash at selected stores like 7-Eleven and KK Super Mart—which is super convenient!

Going back to security, Razer Merchant Services has a tokenization system that basically stores card details in an online vault. On your second purchase, you only need to write your card’s CVV and OTP instead of all card details.

Although, a slight downside is the limited currencies that it supports, which we found disappointing since it works with famous shopping apps worldwide. Furthermore, we were quite downcast at its high commission rates. 

You should also know we noticed that it’s quite common for users to experience a delay in credit card onboarding with Razer Merchant Services. 

We found it extremely disappointing that the process can take up to two months, which is like an eternity when you’re purchasing something you need.


  • A robust payment gateway
  • Can handle a large number of transactions
  • Has a seamless payment system
  • Has a convenient non-card payment option
  • Works with popular shopping apps


  • Long onboarding tie for credit cards
  • Limited supported currencies
  • High commission rates

A Comparison of the Top Payment Gateway Providers in Malaysia

Payment Gateway Annual Fee Pros Cons

Starter - 1st year waived, 2nd year onwards is RM399

Small biz - 1st year waived, 2nd year onwards is waived if the transaction is over RM60,000/year

Supports 48 currencies

Annual fee is waived on the first year

Has slightly higher refund charges

Limited to Southeast Asia


SME - RM500

Startup - Lifetime zero fee

Lifetime zero fee for startups

No refund charges

Slightly higher setup fees

Charges annual fees for SME


Pay as you go - Free

Subscription plan - £19.95/month

Supports over 120 currencies

Provides real-time updates

Fees depend on the current exchange rate

Expensive monthly subscription plan

Stripe PaymentsFree

Supports over 135 currencies

Quick support team

Has higher conversion charges

Refund charges depend on the fee schedule


Easy to setup

No penalties for no sales

Limited currencies

Charges high transaction fees


Basic - Free

Standard - RM5,300/year

Low commission fees

No refund charges

Supports only one currency

Long onboarding time


Easy to use

Offers virtual and physical cards

High commission rates

Has setup and annual fees


Starter - RM300

Advanced - RM450

Special - RM1,500

Stripe - RM450

Offers pay2phone service

Flexible membership plans

Limited currencies

No refunds for FPX transactions


Pay-per-use - Free

Platinum pro - RM1,200/year

SME gold - RM365/year

Shariah-compliant payment gateway

Real-time notifications

Pricier transaction fees

Refund charges depends on the final cost

Razer Merchant Services

Lite - RM99, waived for 1st year

Premium - RM499

Handles large number of transactions

Seamless payment system

Limited currencies

High transaction fees

How to Apply for A Payment Gateway in Malaysia

Obtaining a payment gateway may be challenging for businesses in Malaysia. Here are the steps when applying for a payment gateway in the country:

1. Choose your preferred payment gateway

You need to choose the payment gateway you think is best for your business. There are different factors for you to consider, including setup fees, transaction fees, and annual fees.

2. Setup an account

After choosing your payment gateway, setting up an account is usually quick and easy, depending on the platform.

3. Submit the correct details and application forms.

Some payment gateways in Malaysia will require forms depending on the business type. Some will ask for photocopies or certified true copies of documents to prove that you’re legally allowed to sell your business products.

You must also submit your business bank details to allow you to withdraw the payments you will receive.

4. Pay the necessary fees

Some payment gateways require you to pay the necessary fees like setup and annual fees. You must pay those first before getting approved.

5. Get approved

Once you get the payment gateway’s approval, you can start using it for your business. Congratulations! You can now start getting payments from your business!

Disclaimer: Different payment gateways have different application processes. It’s important to follow the necessary rules so you can legally use it in Malaysia.

FAQs about Payment Gateways in Malaysia

Payment gateways are one of the most convenient forms of technology nowadays that help us navigate the world of our business finances much, much easier. We hope this list we put together of the top payment gateways in Malaysia was helpful to you!

Also, if you have any questions or concerns, please don’t hesitate to send us a quick message, and we’ll get back to you as soon as we can!

Before you go, you may also be interested in our article on the best business loans in Malaysia if you’re starting a business.