In 2023, Malaysia saw a remarkable boost in digital payments, growing by over 13 billion U.S. dollars. This highlights the nation’s rapid shift toward a cashless society, driven by the need for secure and efficient transactions. As businesses in Malaysia continue to thrive, the importance of reliable online payment solutions has never been greater.

Payment gateways are now essential for managing both local and international transactions, playing a key role in the country’s vibrant e-commerce and global trade landscape.

In this article, we’ll dive into the top payment gateways in Malaysia, exploring their features, pros, and cons to help you find the perfect fit for your business. Let’s guide you through making a smart choice for your payment needs!

Quick Overview for Best Payment Gateways in Malaysia

1. Paypal

PayPal is a powerhouse in digital payments, recognized worldwide for transforming how money moves online. Since its inception in 1998, it has enabled seamless global transactions, allowing users to link their bank accounts or cards and send or receive money with ease. Known for its security and convenience, PayPal has become a trusted solution for individuals and businesses alike, offering a fast and safe way to manage finances without the need to share sensitive banking details.

• Key Features:
  • Supports global transactions in over 200 countries and 24 currencies.
  • Easy-to-use interface.
  • Trusted globally with robust security.
• Pros:
  • Globally recognized.
  • Quick setup for instant payments.
  • Integrates with popular e-commerce platforms like Shopify.
• Cons:
  • High fees for cross-border transactions, with additional card payment and currency conversion charges.
  • Not widely used in Malaysia.
  • Frequent account freezes and poor customer support.

2. iPay88

iPay88 is one of the payment gateways in Malaysia that is making life easier for businesses and consumers in the digital age. They provide online payment solutions across Southeast Asia, helping businesses securely handle everything from credit cards to e-wallets. If you’ve ever bought something online and it went smoothly, iPay88 might have been working behind the scenes to make that happen.

Founded in 2006, they’ve grown to become a trusted name in payment gateways, especially in markets like Malaysia, Indonesia, and the Philippines. Whether you’re running a small e-commerce site or a large enterprise, iPay88 offers the tech to process payments safely and efficiently.

• Key Features:
  • Supports local and international payments.
  • Fraud detection features for secure transactions.
  • Ideal for various business types.
• Pros:
  • Popular among Malaysian businesses using local banks.
  • Responsive customer support.
• Cons:
  • High setup costs.
  • Lengthy merchant approval process.
  • Best for businesses focused on the Malaysian market.

3. eGHL

eGHL is a leading payment gateway in Malaysia, with a strong focus on the Southeast Asian market. It simplifies secure payment processing for businesses of all sizes, providing a comprehensive platform that supports credit card transactions, online banking, and e-wallets.

Designed to cater to both small and large enterprises, eGHL offers a wide range of services, from basic payment processing to advanced solutions like recurring billing and multi-currency support. With robust security features integrated into the platform, eGHL ensures that businesses can manage transactions with confidence and ease.

• Key Features:
  • Accepts multiple international currencies.
  • Supports credit cards, e-wallets, and FPX.
  • Includes fraud control measures.
• Pros:
  • Low transaction fees.
  • Simple interface for easy setup.
  • Strong customer support within Southeast Asia.
• Cons:
  • Limited global reach compared to competitors like PayPal.

4. MOLPay

MOLPay is another game-changer for online payments, especially in Southeast Asia. They’re all about offering a flexible, secure, and reliable payment gateway that makes life easier for businesses and their customers. Whether it’s handling credit cards, online banking, or even over-the-counter payments, MOLPay’s got it covered.

Created with a focus on bridging the gap between traditional and digital transactions, MOLPay has carved out a niche by offering merchants multiple ways to accept payments both online and offline. This is a big deal for businesses looking to reach customers who prefer different payment methods, especially in countries where cash is still king.

• Key Features:
  • Supports online banking, credit cards, and in-store payments.
  • Integrated with major Malaysian banks.
  • Built-in fraud detection tools.
• Pros:
  • High transaction success rate.
  • Comprehensive payment methods, including FPX and e-wallets.
• Cons:
  • Primarily focused on the Malaysian market.
  • High pricing for businesses.

5. SenangPay

SenangPay is all about making payments easy, as the name suggests, and that is why it is on our list of top payment gateways in Malaysia. It’s a user-friendly online payment gateway designed with small businesses and startups in mind. Whether you’re just starting your e-commerce journey or already have an established online store, SenangPay makes it simple to accept payments from your customers.

They offer a variety of payment options, from credit cards to online banking, which means your customers can pay however they feel most comfortable. One of the cool things about SenangPay is that you don’t need to be a tech genius to set it up. It’s designed to be straightforward and integrated.

• Key Features:
  • Quick setup without lengthy approval processes.
  • Optimized for Malaysian businesses with local bank support.
• Pros:
  • Affordable for small businesses.
  • Easy integration with website platforms.
• Cons:
  • Limited international payment capabilities.

6. Razer Merchant Services

Razer Merchant Services is a payment solution whose premise is built on providing businesses with a smooth and secure way to accept payments online. They cover e-commerce platforms and other digital online services, including subscriptions; RMS makes it easy to process payments from credit cards, online banking, and even e-wallets, all under one roof.

What makes RMS stand out is its extensive coverage and reliability, especially for businesses across Southeast Asia. From simple payment processing to more advanced features like recurring billing and multi-currency support, RMS is designed to cater to businesses of all sizes.

• Key Features:
  • Comprehensive fraud monitoring and risk management.
  • Available across Southeast Asia.
• Pros:
  • Strong fraud detection and encryption.
  • Wide payment method options, including FPX and e-wallets.
• Cons:
  • Lengthy registration process for new businesses.

7. Stripe

Stripe is one of those payment platforms that’s practically a household name in the tech world, so it is no surprise that we have featured it on our top 11 payment gateways in Malaysia. It’s built for businesses of all sizes, from startups to global giants, making online payments smooth and secure. What sets Stripe apart is how developer-friendly it is if you’re building an online business. Stripe makes it super easy to integrate payments into your platform.

Launched in 2010, Stripe quickly became the go-to for tech-savvy businesses, offering everything from simple credit card processing to more advanced features like subscription billing, fraud prevention, and multi-currency support. And they didn’t stop there. Stripe has expanded into financial services like issuing virtual and physical cards, handling taxes, and even managing business capital.

• Key Features:
  • Supports over 135 currencies.
  • Built-in analytics and reporting tools.
  • Open API for customizable payment processes.
• Pros:
  • Ideal for businesses with international reach.
  • Offers fraud prevention and subscription management tools.
• Cons:
  • High fees for international payments.
  • Slow customer support for smaller businesses.

8. Billplz

What sets Billplz apart is its focus on affordability and simplicity, and for that reason, we have ranked them on our list of payment gateways in Malaysia. They’ve streamlined the whole process, so you don’t need to worry about complicated setups or high fees. Just sign up, create an invoice, and you’re good to go. Plus, they offer real-time transaction updates, which is a nice touch when you need to stay on top of your cash flow.

• Key Features:
  • Low transaction fees.
  • Supports online banking, credit cards, and e-wallets.
• Pros:
  • Fast access to funds, often settled within the same day.
  • Simple integration with minimal technical expertise is required.
• Cons:
  • Limited international capabilities.

9. HitPay

HitPay is a payment platform that focuses on small businesses and offers easy, affordable payment solutions. As one of the top payment gateways in Malaysia, HitPay offers a variety of options that are needed to serve as one of the reliable payment gateways in Malaysia. You need to accept payments quickly and securely. From credit cards to e-wallets and even BNPL (Buy Now, Pay Later), they cover all the major payment methods your customers might prefer.

One of the best things about HitPay is how easy it is to start. You don’t need a complicated setup or a big budget. It is easy to sign up and integrate with your platform, and you’re ready to go. They also offer tools like point-of-sale systems and payment links so that you can manage everything seamlessly from one place.

• Key Features:
  • Accepts credit cards, digital wallets, and POS payments.
  • No setup or monthly fees.
• Pros:
  • Affordable for small businesses.
  • Seamless integration with platforms like Shopify.
• Cons:
  • Limited features for large enterprises.
  • Mostly optimized for Malaysia and Singapore.

10. GHL

GHL is a key player in the payment solutions space, especially leading as one of the top payment gateways in Malaysia. They’ve been around for a while, and their focus is simple: helping businesses of all sizes securely accept payments, both online and offline. Whether it’s credit cards, debit cards, e-wallets, or even QR code payments, GHL’s got the infrastructure to handle it all.

One of GHL’s strong suits is its versatility. They serve everyone from small shops to large enterprises, making payments as convenient as possible for both the business and the customer. Plus, they’re big on security, ensuring that transactions are safe and compliant with global standards.

• Key Features:
  • Supports online banking, credit card transactions, e-wallets, and in-store terminals.
  • Strong fraud protection.
• Pros:
  • Wide range of payment options for domestic and international clients.
  • Ideal for businesses with both physical and online stores.
• Cons:
  • Expensive for international transfers.
  • Complex integration process.

11. Bizappay

What really stands out about Bizappay is its focus on ease of use and accessibility. You don’t need a tech background like most payment gateways in Malaysia to set it up; just register and generate a payment link or QR code, and you’re ready to start accepting payments. It’s perfect for small businesses, freelancers, or anyone looking for a no-fuss payment solution.

In short, Bizappay takes the complexity out of payments that are sometimes associated with some of the payment gateways in Malaysia in this post. It’s straightforward, secure, and built to help businesses collect payments without all the extra effort, allowing you to focus more on your customers and less on the technical details.

• Key Features:
  • Supports subscription models and recurring payments.
  • Low transaction fees and flexible monthly plans.
• Pros:
  • Easy onboarding process.
  • Integration with e-commerce platforms like Shopify.
  • Great for small businesses with recurring billing needs.
• Cons:
  • Limited advanced reporting and fraud detection features.
  • Limited support for international transactions.

How to Choose the Right Payment Gateways in Malaysia

With a variety of payment gateways available in Malaysia, ranging from global players like Stripe and PayPal to regional options like iPay88 and eGHL, each offers different features, fees, and security measures.

To stay competitive, businesses must carefully consider their specific needs, from integration capabilities to transaction security. This guide will help you navigate the key factors to consider when selecting the ideal payment gateway for your business in Malaysia.

• Supported Payment Methods: Ensure the gateway supports a wide range of payment options, including credit and debit cards, online banking (FPX), e-wallets, and even alternative payment methods like Buy Now, Pay Later (BNPL). A versatile payment system caters to more customers and increases conversion rates.
• Transaction Fees: Evaluate the transaction fees, which can vary depending on the payment methods, local vs. international transactions, and monthly volumes. Understanding these costs will help you choose a gateway that aligns with your budget while maximizing profitability.
• Security Features: Security is a top priority for payment gateways. Look for gateways offering advanced security features like fraud detection, encryption, and PCI-DSS compliance to protect your business and customers from fraudulent activities.
• Ease of Integration: A gateway should easily integrate with your existing e-commerce platform or website. Check if the provider offers plugins or APIs for seamless integration and a smooth checkout experience. Compatibility with popular platforms like Shopify, WooCommerce, or Magento is a bonus.
• Customer Support: Responsive and reliable customer support is essential for troubleshooting issues. Ensure the payment gateway provider offers 24/7 support, particularly if your business operates across time zones or processes high transaction volumes.

What DSGPay Offers as a Payment Gateway in Malaysia

As you’ve become familiar with all the options available for the payment gateways in Malaysia. With an extensive network of supported banks across Malaysia, DSGPay ensures that recipients can receive funds directly into their local bank accounts without any hassle. This broad coverage makes it easier for businesses and individuals to disburse payments, whether for personal remittances or business transactions, ensuring that funds reach their destination efficiently and on time.

• Seamless Remittances: DSGPay facilitates quick and efficient fund transfers from overseas to Malaysia.
• Real-Time Disbursement: Payments up to MYR 31,000 are processed in real-time, within 30 minutes.
• No Transaction Limits: There are no minimum or maximum limits on transaction amounts, offering flexibility for any business size.
• Comprehensive Transaction Support: Supports various transaction types, including C2C, C2B, B2B, and B2C.
• API Integration: DSGPay offers API features, enabling smooth integration and automated payment processing.
• Extensive Bank Coverage: Supports a wide network of Malaysian banks for local bank transfers, providing widespread access to beneficiaries.
• Compliance and Security: All transactions undergo thorough AML screening for enhanced security and compliance.
• No Hidden Fees: Beneficiaries receive the full payment amount as specified, without any deductions or hidden fees.