Top 11 Payment Gateways in Malaysia (2025): Fees & Features
Are you ready to tap into payment gateways Malaysia that can supercharge your business’s online transactions? Whether you’re a local merchant or looking to expand your brand to Malaysian customers, choosing the right gateway is key.
After all, 96% of Malaysians now use digital payments [Visa, 2022 Consumer Payment Attitudes Report]. If you’re still deciding which provider meets your needs, take a look at some key factors for choosing a payment service provider to see how each option aligns with your goals.
Why Payment Gateways Are Critical in Malaysia’s Market
Malaysia’s e-commerce revenue surged by 10.4% in 2023, hitting MYR 1.1 trillion (USD 240 billion) [DOSM, 2023]. With that spike, online merchants need secure, multi-method payment solutions. Already, the market stood at USD 173.21 million in 2022 and is expected to climb steadily [TechSciResearch, 2023]. Beyond credit cards, a large share of transactions comes from local bank transfers or e-wallet payments like FPX, Boost, and Touch ’n Go. If your business expects to reach customers outside Malaysia, be sure to also consider popular payment methods for international trade.
Key Criteria for Evaluating These Gateways
When reviewing gateway providers, look for:
Transaction costs: Setup, monthly, and per-transaction fees.
Payment methods: Ability to process credit/debit cards, e-wallets, and bank transfers.
Multi-currency support: Useful if you cater to overseas clientele.
Security standards: PCI DSS compliance and advanced fraud detection.
Integration options: Seamless plugins or APIs for popular e-commerce platforms.
Customer support: Quick resolution times and round-the-clock availability.
All these factors help maintain smooth checkouts, reduce cart abandonment, and boost sales.
Top 11 Payment Gateways in Malaysia (2025)
1. Mural Pay
Mural Pay stands out for businesses seeking instant global payments and stablecoin on/off-ramps while still catering to Malaysian customers. It offers:
Batch payments for vendor or contractor payouts.
40+ currencies for cross-border transactions.
Real-time rate conversion that cuts foreign exchange markups.
Compliance-ready KYB/KYC, similar to iPay88 but with deeper support for stablecoins.
Fees & Features:
Per-transaction fees vary by volume but remain competitive with local providers like senangPay.
Local and international settlement in minutes, whereas iPay88 can take up to a few days for cross-border payouts.
Compare with Another Item: While iPay88 is well-known for integrating local e-wallets, Mural Pay excels in multi-currency payouts and instant conversions—a game-changer for merchants who deal with multiple markets.
2. iPay88
One of the best-known names in Malaysia, iPay88 has built trust among businesses and regulators alike. It supports FPX, credit cards, and local e-wallets.
Fees & Features:
Transaction fee typically hovers around 2-3%.
Provides PCI DSS compliance and anti-fraud tools.
Monthly fees may apply depending on the plan.
Compare with Another Item: For local coverage and brand recognition, iPay88 is a top choice. However, Mural Pay’s business-first focus gives iPay88 a run for its money when it comes to managing cross-border payments.
3. eGHL
A part of GHL Systems, eGHL is popular for its robust security and localized approach.
Fees & Features:
Supports FPX, major credit cards, and e-wallets such as Boost.
Quick plugin-based integrations for Shopify and Magento.
Transparent fee structure; often a small setup fee plus transaction charges.
Compare with Another Item: eGHL offers local promotions akin to Billplz, but eGHL may have better analytics tools if you need real-time data on transaction trends.
4. Razer Merchant Services (MOLPay)
Previously called MOLPay, Razer Merchant Services has a strong e-commerce presence and works with multiple Malaysian banks.
Fees & Features:
Wide e-wallet coverage, including Touch ’n Go.
Built for high-volume retailers, including gaming platforms.
Fraud filters and 3D Secure for credit card payments.
Compare with Another Item: If you expect high transaction volumes, Razer Merchant Services edges ahead of senangPay. Still, for cross-border needs, Mural Pay’s multi-currency angle can offer faster settlements.
5. senangPay
Known as a beginner-friendly solution, senangPay zeroes in on straightforward setups for small and medium businesses.
Fees & Features:
No monthly fee in some plans; you pay per transaction.
Supports FPX, credit cards, and selected e-wallets.
Basic fraud detection features, though not as advanced as eGHL.
Compare with Another Item: senangPay is simpler to deploy than Razer Merchant Services. But if you crave more advanced risk management or multi-currency features, iPay88 or Mural Pay might be a better match.
6. Billplz
Widely used by nonprofits and small businesses, Billplz blends payment collection with invoicing.
Fees & Features:
Simplified interface to send digital bills and track payments.
Integration for FPX and local e-wallets.
Competitive pricing that can drop as your transaction volume rises.
Compare with Another Item: Billplz’s hallmark is ease of billing, whereas eGHL or Stripe might offer deeper customization. If your main priority is quick invoice creation, Billplz is a solid choice.
7. Stripe
Stripe is a developer-friendly giant that has expanded in Malaysia. Businesses that require extensive customization often pick Stripe.
Fees & Features:
Advanced API for custom checkouts.
Supports a range of payment methods, though local e-wallet coverage is still catching up to iPay88.
Transparent tiered pricing, typically around 3% plus a minimal fixed fee.
Compare with Another Item: Stripe handles multi-currency processing well but may lack the local e-wallet integrations that Billplz or MOLPay provide out of the box.
8. PayPal
PayPal dominates the global online payment scene. In Malaysia, it’s valued for brand recognition and buyer protections.
Fees & Features:
Robust dispute resolution, though some sellers find PayPal’s fees on the higher side.
International coverage for credit cards and PayPal balances.
Easy integration with most major e-commerce platforms.
Compare with Another Item: While PayPal shines for international shoppers, local alternatives like senangPay or iPay88 may offer better rates for domestic transactions.
9. Braintree
Owned by PayPal, Braintree appeals to businesses eyeing a flexible, developer-centric platform with broader currency support.
Fees & Features:
Transparent pricing, usually a fixed percentage plus a small fixed fee.
Tokenization for secure card data handling.
Specialized subscription billing for membership sites.
Compare with Another Item: Braintree and Stripe both cater to developers. Braintree might have deeper synergy with PayPal, but Stripe’s API can be more robust for specialized e-commerce builds.
10. Payex
Though less talked about than iPay88 or eGHL, Payex is an up-and-coming contender in Malaysia.
Fees & Features:
Straightforward monthly fee and transaction-based pricing.
Generous cart integration support for mid-sized platforms.
Real-time reporting for transaction monitoring.
Compare with Another Item: Payex edges out Billplz in immediate reporting features but lags behind Razer Merchant Services for large-scale usage.
11. HitPay
HitPay started as a Singapore-based payment solution and expanded into Malaysia to help SMEs handle online and offline receipts.
Fees & Features:
Simplified point-of-sale (POS) solutions that sync with your online store.
Accepts local wallets, PayNow (for Singapore), and FPX for Malaysian customers.
Mildly higher fees than some local competitors but offsets it with an intuitive POS system.
Compare with Another Item: HitPay is more robust than Billplz for offline integration. However, for purely online transactions, iPay88 or eGHL may offer slightly better local rates.
Which One Should You Choose?
When picking a gateway, think about payment coverage, fee structure, and how quickly you can get paid. For strictly Malaysian consumers, iPay88 or eGHL might give you stronger local e-wallet integration. If you’re expecting global expansion, Mural Pay or Stripe might provide better multi-currency support and broader compliance. Finally, if you need easy invoicing, Billplz or senangPay can simplify your billing process.
Key Takeaways for Business Owners
Local E-wallet Support: Focus on solutions like iPay88 or Razer Merchant Services if you want to reach the majority of local buyers using FPX or Touch ’n Go.
Cross-Border Flexibility: Mural Pay or Stripe can facilitate rapid currency conversion, making them prime choices if you sell in multiple regions.
Budget & Volume: Evaluate setup and transaction fees carefully. Some gateways reduce costs as your transaction volume grows.
Advanced Features: Look at subscription billing, analytics, or advanced fraud detection if these are crucial for your business model.
Wrapping Up
In a fast-growing market where digital payment usage dominates, selecting the right partner can make or break your customer experience. Each of the 11 gateways above serves a slightly different niche—from straightforward local methods to advanced multi-currency expansions. As you plan your next steps, you might also find value in exploring invoice payments 101 for a deeper look at how businesses manage their billing cycles.
Ready to level up your payment strategy? Malaysia’s market is primed for continued e-commerce growth, and the right gateway will give you a competitive edge in user experience and profitability.
References
TechSciResearch. (2023). “Malaysia Payment Gateway Market Analysis.” Available at: https://www.techsciresearch.com/news/10083-malaysia-payment-gateway-market.html
Visa. (2022). “2022 Consumer Payment Attitudes Report.” Available at: https://www.visa.com.my/
DOSM (Department of Statistics Malaysia). (2023). “Malaysia E-commerce Income Data.” Available at: https://www.dosm.gov.my/
