Comparison of various Payment Gateways in Malaysia

Let’s find out what payment gateways is available for Malaysia market.

Summary

	eGHL	iPay88	SenangPay
Onboarding Fee	RM499 – RM10000	RM488 – RM3800	N/A
Annual Fee	RM599	RM500 – RM800	RM300 – RM1500
Credit/Debit Card Transaction Fee	1.8% – 2.5%	1.8% – 2.9%	1.8% – 2.5%
Online Banking Transaction Fee	1.8% – 2.5%	1.8% – 2.9%	1.8% – 2.5%
e-Wallet Transaction Fee	0.5% – 1.5%	1% – 1.5%	N/A
Settlement Period	Weekly	Weekly	Twice a week
Settlement Withhold	N/A	RM100	RM100
Settlement Charge	N/A	N/A	N/A
Currencies Support	MYR + Multi Currencies	MYR + Multi Currencies	MYR
Country of Origin	Malaysia	Malaysia	Malaysia

Summary

	billPlz	RazerPay	M2U Pay
Onboarding Fee	Free – RM18000	RM499	Free
Annual Fee	RM599	RM99 – RM499	Free
Credit/Debit Card Transaction Fee	0.4% – 2.5%	2.65% – 3.8%	RM0.50
Online Banking Transaction Fee	RM0.50 – RM1.50	1.8% – 2.9%	RM0.50
e-Wallet Transaction Fee	Free	1% – 1.5%	N/A
Settlement Period	Weekly	Weekly	T+1
Settlement Withhold	N/A	RM100	N/A
Settlement Charge	N/A	N/A	N/A
Currencies Support	MYR	MYR	MYR
Country of Origin	Malaysia	Malaysia	Malaysia

Summary

	Stripe	PayPal
Onboarding Fee	Free	Free
Annual Fee	Free	Free
Credit/Debit Card Transaction Fee	3% + RM1.00	MYR: 3.9% + RM2.00 Other: 4.4% + RM2.00
Online Banking Transaction Fee	3% + RM1.00	MYR: 3.9% + RM2.00 Other: 4.4% + RM2.00
e-Wallet Transaction Fee	N/A	N/A
Settlement Period	Weekly	Upon request
Settlement Withhold	N/A	N/A
Settlement Charge	N/A	> RM400 : Free < RM400 : RM3.00
Currencies Support	MYR + Multi Currencies	MYR + Multi Currencies
Country of Origin	United States	United States

I’m not going into the details of each Payment Gateway merchant rate for each individual package and offer, if you are interested in more details, you can always contact their representative directly.



Part 1: What’s Payment Gateways and How does it work?
Part 3: How to choose a Payment Gateway?