Comparison Between Payment Gateway Service Providers In Malaysia
This is one of the most commonly asked questions. In fact, there many payment gateway providers in Malaysia today (e.g., ipay88, Razer Merchant Services (f.k.a MOLPay), eGHL, 2C2P, Kiple, UPay, SenangPay, Curlec 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 comparisons here. We hope these information will help you decide which is the most suitable package for your online business. Let’s compare now!
Comparison between payment gateway service providers in Malaysia below:
 |  |  |  |  | |
| Name | Curlec by Razorpay | ipay88 | Razer Merchant Services | eGHL | PayPal |
| Setup fee | Standard Package: RM500 Enterprise Package: Volume Based Pricing | SME: RM1000 Enterprise: RM2500 | Lite: RM499 Premium: RM400 | Plan 1: RM499 Plan 2: RM5000 | Free |
| Annual fee | Standard Package: FREE Enterprise Package: Volume Based Pricing | SME: RM500 Enterprise: RM900 | Lite: RM99 (waived for the 1st year) Premium: RM499 | Plan 1: RM25/mth (waived if sales >RM15k/mth) Plan 2: RM599 (waived if sales >RM180k/year) | Free |
| One-time credit card application fee | None | Free | Lite: Waived (normally RM900) Premium: Waived (normally RM900) | Free | Free |
| Credit card transaction fee (per transaction) | Domestic cards: 2.5% International cards: 3% | SME: 2.8% Enterprise: 2.4% | Lite: 3.8% Premium: 2.4% | Plan 1: 2.5% Plan 2: 2.0% | Malaysia: 3.9%+RM2 Overseas: 4.4%+RM2 |
| Types of credit card | Visa, Mastercard, UnionPay | Visa, Mastercard, AMEX & UnionPay | Visa & Mastercard | Visa, Mastercard, UnionPay, NETS, Diners Club International, Discover, AMEX & MyDebits | Visa, Mastercard, American Express & Discover Network |
| Online banking transaction fee (per transaction) | 1.5% or RM1.00 (whichever is greater) | SME: 2.8% or min RM0.60 (whichever is higher) Enterprise: 2.0% or min RM0.60 (whichever is higher) Debit card: Startup: 2.8% SME: 2.5% | Lite: 3.8% or min RM0.60 (whichever is higher) Premium: 2.4% or min RM0.60 (whichever is higher) | Plan 1: 2.5% or min RM0.50 (whichever is higher) Plan 2: 2.0% or min RM0.50 (whichever is higher) | – |
| E-wallets (per transaction) | Touch’nGo, GrabPay & Boost: 1.5% | Boost, DuitNow, GrabPay, MCash, MAE, ShopeePay, Touch’nGo, UnionPay & Alipay: 1.5% Setel: 1.6% | Lite: Not available Premium: ShopeePay, Grab pay, MAE, Touch‘nGo: 1.4% | Boost, GrabPay, Touch’nGo & MAE: 1.5% | – |
| Buy Now Pay Later (BNPL) | ShopBack PayLater & PayLater by Grab | Atome & PayLater by Grab | Atome & PayLater by Grab | Atome, VISA Instalments, pace., HSBC & PayLater by Grab | – |
| Other payment methods | Direct Debit & Payouts | ApplePay, GPay, PayPal & Samsung Pay | ApplePay, GPay, Huawei Pay, Samsung Pay, Razer Cash at 7-Eleven, WeChat Pay & Pay with Crypto | WeChat Pay, Setel, UnionPay, Truemoney Wallet, Alipay, ShopeePay & MCash | – |
| Business registration requirements | Yes | Yes | Yes | Yes | No |
| Receive payment | T+2 days | Bi-weekly transfer to bank account | Weekly transfer to bank account | Weekly transfer to bank account | Direct withdrawal to local bank |
| Application approval time | 1-2 days | Credit card: within 2 months Online banking: 7 to 14 working days | Credit card: within 2 months Online banking: 3 to 5 working days | Credit card: within 2 months Online banking: 7 to 14 working days | Credit card: 2 months |
| Minimum withdrawal sum | No minimum withdrawal | No minimum withdrawal | Lite: RM100 (RM2 per settlement) Premium: RM100 | No minimum withdrawal | More info |
| Website | More info | More info | More info | More info | More info |
* All figures/ amount may be subjected to taxation. Please consult your sales agent.
** Please be informed that the payment gateway comparison table above is for reference purposes only as these information may change from the date of publish and we do not guarantee on the accuracy of the information shared. You are advised to check the information from the payment gateway providers either through their website or contact them directly or contact us if you have any inquiry about the payment gateway packages. We can assist to connect you to the respective sales representative.
Article version: 08 February 2024
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