If you are an online business owner or have an e-commerce business or any other business in Malaysia, then you must need the best payment gateway in Malaysia.
Payment gateways are a medium that makes online payment very simple and easy.
Having the best payment gateway for your online business can make your business trustworthy.
Customers can trust you while making payments on your website. And there is no need to tell you how much trust is important in business.
Indeed, choosing the secure payment gateway for your online business is very important.
Therefore, here in this article, we are sharing the 5 Best Payment Gateways in Malaysia, according to their ranking and reviews.
But before that, let’s see their standards first.
Let’s start with it.
Standards for The Best Payment Gateway in Malaysia
There are some standards or measures you can follow before choosing the best payment gateway in Malaysia for your online business.
Here are some of those that you must take a look at:
#1. Fees
We are doing business to earn money, right.
Then, why any online business owner will choose a payment gateway in Malaysia that has high processing fees?
Obviously not. Nobody is going to do that for any sake. Everybody wants more and more profit from their business.
Therefore, when you choose a payment gateway in Malaysia, always look at the processing fees and compare them with others.
#2. Security
Everybody likes, or you can say, loves his/her money more than anything in this world and nobody wants to lose it.
And if anybody loses a single buck while doing payment on your website, just remember they are not going to come back again.
So, while choosing the payment gateway for online business, you must consider the most secure payment gateway.
#3. Ease of Use
Everybody in this world is running and is in hurry.
And nobody wants to waste their time on anything, especially when they spend money.
So, always look for a payment gateway that provides an easy and quick way to do transactions.
#4. Customer Service
Customer service is the most crucial thing when choosing the best payment gateway in Malaysia.
If the system shuts down, even for some seconds, then you can lose profit, brand image, and even customers.
Moreover, customers don’t wait for your product, they have unlimited choices online.
Therefore, always choose that which provides quick service.
Hence, these are the most important standards for the best payment gateway in Malaysia.
Now, let’s see the 5 Best Payment Gateways in Malaysia for your online business.
5 Best Payment Gateways in Malaysia
There are various payment gateways in Malaysia that claim to be the best. But not every claim is true.
Therefore, we are sharing the 5 Best Payment Gateways in Malaysia by following all the standards mentioned above.
Moreover, these will be organized according to their ranking and reviews.
So, let’s start with it:
#1. Mobi
Mobi is the best Online Payment Gateway in Malaysia, according to ranking and reviews by customers.
There are various more reasons to put Mobi in the first position in this article. And they are:
- Commission per Transaction: 6% MDR(for both credit & debit cards).
When we compared we didn’t find any other payment gateway that offers this lower processing fee.
There are no hidden fees. Everything will be transparent.
- Setup Fee:
- Customer Support: (24/7) Excellent.
- Fastest Onboarding- It doesn’t waste your precious time to start.
- Quickest Settlement– It can transfer money to your bank account within 5 days.
- Quick and Smooth Checkout- Your customers never feel like they are doing something complex.
#2. eGHL
eGHL is another secure payment gateway that is serving in Southeast Asia.
It provides its service for both card and non-card payment channels.
It is governed by the Central Bank of Malaysia as a non-bank acquirer and in 2013, it complies with Malaysia’s Financial Services Act.
- The commission per transaction:
Starter: 2.8% and Small Biz – 2.5% which is higher than Mobi.
- Annual Fees:
Starter – 1st year waived; 2nd year onwards RM 399 small and Business – 1st year waived; 2nd year onwards waive if transaction volume exceeds RM60000 per year)
- Setup Fees: Starter:
RM 399 and Small Biz – RM599.
- Customer Support: Good
#3. Worldpay
World pay mainly serves the United Kingdom but it is also a secure payment gateway in Malaysia.
It supports more than a hundred currencies along with debit and credit cards (including PayPal).
You can also send payment links to your customers which means your customers don’t need to even go to your website.
- Customer Support is good but not the best (As it mainly serves in the UK).
- Fees and Charges:
-
- Free – Pay as you go Plan
- Monthly subscription plan at £19.95 per month and
- Charges on Refunds: No extra charges
- Commission per transaction: 2.75% + £0.20 (Way more than Mobi which is 1.6%).
- Onboarding Time: Minimum 5 days.
- Customer Support: Good
#4. Billplz
Billplz is a growing payment gateway in Malaysia and also a secure payment gateway.
It has an integration with PayPal and this is the reason it is here in this blog.
It is also integrated with EasyStore, a famous eCommerce platform in Malaysia.
- Fees and Charges:
- Setup Fee: Free
- Annual fee: Free
- Charges on Refunds
- The commission per transaction: RM 1.50 per transaction
- Onboarding Time: Minimum 2 Weeks
- Customer Support: Good
#5. Stripe
Stripe is also a fast-developing payment gateway across the world.
It offers its services to a wide range of online applications and websites.
In Malaysia, it not only supports Credit/ Debit but also FPX. It also provides a recurring payment service.
- Fees and Charges:
- Setup: Fee.
- Annual fee- Not provided
- Charges on Refunds- Not provided
- Commission per transaction- Not provided (More that Mobi)
- Customer Support: Good.
- Onboarding Time: Minimum one week.
Conclusion
We know that choosing online payment gateway in Malaysia is very important for your business.
Every business owner wants to get maximum profit and for that, they tend towards low fees payment gateway in Malaysia.
Therefore, in this article, we have discussed the 5 best payment gateway in Malaysia.
However, not all payment gateways are the same. So, you should choose the best fit for your online business.
According to us, the Best Payment Gateway in Malaysia is Mobi (Due to its lowest commission rate and charges, and other features).