This is one of the most commonly asked questions. In fact, there many payment gateway providers in Malaysia today (i.e. iPay88, RazerPay (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. We have took time compile some crucial information so that you can do a Comparison Between Payment Gateway Service Providers In Malaysia. We hope these information will help you decide which is the most suitable package for your online business. Let’s compare now!
Thing #1 – Your Business Information
Proper understanding of your business and present it to your designer/developer so that they can understand what your business is all about. Tell them why you need a website. Designers/developers with proper understanding will be much more efficient since they can pinpoint much vital information.
Business information such as:
- Company vision and mission
- Products/services that your company provides
- Explanation of each product/services
- The flow of business process
- Contact information
If you are looking into re-designing, this are the additional information you can give them:
- New pages information
- New idea
- New products/services
- Changes need to be done on the current website
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| Name | iPay88 | RazerPay | eGHL | Paypal |
| Setup Fee |
Startup*: RM1,388 SME*: RM2,088 *Subjected to tax |
Lite: RM499 Premium: RM400 |
Plan 1*: On-boarding Fee: RM499 Plan 2*: On-boarding Fee RM5,000 *Subjected to tax |
Free |
| Annual Fee |
Startup*: N/A SME*: RM500 *Subjected to tax |
Lite: RM99 (waived for the 1st year) Premium: RM499 |
Plan 1*: RM25.00 per month (waived if sales exceed 15k per month) Plan 2*: RM599 (waived if sales exceed RM180k per year) *Subjected to tax |
Free |
| One-Time Credit Card Application Fee |
RM900* (waived for limited time: please confirm with service provider) *Subjected to tax |
RM900 (waived for limited time: please confirm with service provider) |
Free | Free |
| Credit Card Transaction Fee |
Startup*: 3.2% or min RM0.60 (whichever is higher) SME*: 2.8% or min RM0.60 (whichever is higher) *Subjected to tax Debit card: Startup: 2.8%; SME: 2.5% |
Lite: 3.8% or min RM0.60 (whichever is higher) Premium: 2.4% or min RM0.80 (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) *Subjected to tax |
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| e-Wallet |
Boost: 0% (valid for promotion period only) VCash: 1.2% |
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Boost, GrabPay, TNG & MAE: 1.5% per transaction *Subjected to tax |
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| Business Registration Requirement | Yes | Yes | Yes | No |
| Types of Credit Card | Visa, Mastercard | Visa, Mastercard | Visa, Mastercard | Visa, Mastercard, American Express, Discover Network |
| Receive Payment | Weekly transfer to bank account | Weekly transfer to bank account | Weekly transfer to bank account | Direct withdrawal to local bank |
| Application Approval Time |
Credit Card: within 2 months Online Banking: 7 – 14 working days |
Credit Card: within 2 months Online Banking: 3-5 working days |
Credit Card: within 2 months Online Banking: 7 – 14 working days |
Credit Card: 2 months |
| Minimum Withdrawal Sum |
Startup: RM100 SME: RM100 |
Lite*: RM100 (*RM2 per settlement) Premium: RM100 |
No minimum withdrawal. |
RM40 More Info |
| Additional Features |
7-Eleven (MOLPay Cash): Yes B-Infinate (Loyalty Program): Yes |
Please consult eGHL consultant to find out more features about recurring, instalment & email payment link. |
*Please be informed that the payment gateway comparison table above is for reference purposes only as the information may be different 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 drop us an e-mail at hello[at]techstrongbox.com if you have any inquiry about the payment gateway packages. We can connect you to the respective sales representative.
This article was last updated on 07.01.2021.
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