Many business owners are a little confused about how to accept online payments in Malaysia since the integration of technology in payment options has gained huge popularity.
The popularity of online payment in Malaysia is because of the booming eCommerce sector and online shopping.
Moreover, they get plenty of options in one place (online stores) without wasting time and effort.
In addition, they also get some extra discounts or perks if they do online payments while shopping.
And who doesn’t want a discount or perks?
Nobody! Right?
Everybody loves discounts or perks even after getting the best product. And for that, business owners need to accept online payment in their stores.
However, they really don’t know how to accept online payments in Malaysia.
Therefore, this blog is going to share some best online payments methods in Malaysia.
Let’s get started!
Ways to Accept Online Payments in Malaysia
There are various existing ways to accept online payments, such as bank transfers and cards.
In addition, some new payment methods have been introduced, like eWallets and online Payment Gateway Malaysia to help business owners.
These payment options have helped many business owners to enhance customers’ satisfaction.
Therefore, let’s understand the available online payment methods in Malaysia.
#1. Credit/Debit Cards
Credit/Debit card has always been one of Malaysia’s best and easy payment methods.
In addition, it is also very secure and safe as it uses multi-layer security.
According to data, the usage of credit/debit cards for online payment will increase from 36% to 39% in the coming year.
After the COVID-19 and MCO (Malaysian movement control order), Malaysian customers have increased their usage of cards for online payment.
Therefore, it becomes essential for business owners to some a payment method that accepts credit/debit card payments.
And if you are looking for one, your best option can be Mobi, the top in Malaysia’s online payment gateway list with the feature of accepting major payment options.
Moreover, switching to Mobi will be your best bet to accept credit/debit card payments.
#2. Bank Transfer
Bank transfer refers to transferring money from one bank to another, usually through FPX, an online payment gateway network in Malaysia.
It is one of the most popular online payment options among Malaysian customers.
In addition, it provides a fast, secure, and convenient method to transfer money or make online payments to any store.
All the online bank transfer transactions are done after ensuring the security of users’ sensitive information.
Moreover, transferring money from a bank is so easy and safe that you can make a payment just by your laptop or desktop, or mobile with an internet connection.
Therefore, many people prefer bank transfers when they buy any stuff online.
So, it is essential for business owners to have a bank transfer payment on their store.
#3. eWallets or Digital Wallets
eWallets or digital wallets are prepaid payment systems where you have to add money from your bank before transactions.
In addition, users can also link digital wallets to their bank accounts to make payments fast.
Digital wallets or eWallets have become a trend in Malaysia as it is the most reliable and easy-to-do payment option.
Moreover, people with a smartphone in their hand can make payments to any online or offline stores for goods and services through eWallets.
Since eWallets are mushrooming in Malaysia, more than 60% of people use them regularly to make a purchase.
Therefore, if you are a small business in Malaysia, you must have a payment option that accepts digital wallets or eWallet.
Now, you know the three most popular online payment methods in Malaysia
And it would be best if you had got some idea of how to accept online payments in Malaysia.
So, as a business owner, you must have a solution through which you can accept all three payment methods.
Therefore, to help you with it, Introducing Mobi, the best Online Payment Gateway Malaysia.
Mobi is an all-in-one payment solution in Malaysia with all the required features.
In addition, it also accepts all major payment methods such as debit/credit cards, bank transfers, and eWallets.
Moreover, with all the features and the best security system, Mobi has become one of the top 10 payment gateways in Malaysia.
Conclusion
Online payment has become a new trend with the booming of eCommerce and online shopping.
Most people prefer online payment methods to make transactions in exchange for goods and services.
It helps in saving time and effort and sometimes helps them get some extra discount or perks.
Therefore, it has become essential for business owners in Malaysia to accept every online payment method.
Moreover, choosing the best online payment gateway in Malaysia for your business will be your best bet.
Hope you get the answer to how to accept online payments in Malaysia.