Top 10+ Malaysia Online Payment Solutions – 2024 Updates


top Malaysia online payment solutions

Online payment and online banking have transformed the way shoppers shop, buy and pay: the way business owners conduct their business.

In fact, online payment has revolutionized eCommerce and the banking industry.

As more and more companies open their online stores, Malaysia’s e-commerce sector is rapidly expanding.

In this blog post, we are pleased to discuss and compare 8 major Malaysia online payment solutions.

Eager to know more? Let’s find out and compare different types of Malaysia Online Payment Solution.


iPay88 is the leading online payment services provider for Southeast Asian merchants (Malaysia, Philippines, Thailand, Indonesia, Thailand, China, Singapore, etc).

iPay88 processes all major credit cards, e-debit, e-money, and merchants can transfer their funds to local bank accounts.

They offer two subscription plans: SME Plan and SOHO Plan and allow customers to pay in MYR.

iPay88 is considered the biggest player and suitable for big marketplaces.

  1. iPay88 SOHO Plan: This plan is designed for small office/home office (SOHO) businesses. It offers a basic package with features suitable for small-scale businesses.
  2. iPay88 SME Plan: The SME (Small and Medium Enterprise) Plan is tailored for medium-sized businesses. It provides enhanced features and capabilities to cater to the needs of growing enterprises.

ipay88 payment methods

Razer Merchant Services (RMS) – formerly known as MOLPay

Razer Merchant Services (RMS) provides a complete suite of payment methods from credit/debit card, online banking, e-wallets, at highly competitive rates in Southeast Asia.

They are also the region’s leading online payment gateway that serves widely-used brands such as Grab, Expedia, Starbucks, Lazada, Uniqlo, Sephora, and more.

RMS with a proven track record of being the largest and only payment processor in Malaysia with substantial volume capacities.

MOLPay payment methods


senangPay is a payment gateway service provider that allows merchants to receive credit and debit cards, and FPX payment easily.

SenangPay works as a middle person that requests a payment from your customer’s card/bank account  and then credit them to your bank account.

SenangPay provides a user-friendly interface and seamless checkout process, ensuring a smooth experience for both merchants and customers.

It also offers features such as invoicing, recurring payments, and sales reports to assist businesses in managing their transactions effectively.

SenangPay Fee, Costing & Features

Transaction Fees for senangPay Package

Related: FAQs about Transaction Fees for senangPay X Stripe Package


Merchants love Billplz because of its low fees and fast settlement for online banking.

It is the preferred online payment method in Malaysia based on Bank Negara’s statistics.

Billplz aims to simplify the payment process by providing a user-friendly interface and customizable payment pages.

It also offers features like recurring billing and integration with popular e-commerce platforms.

It offers Basic, Standard and Enterprise plans for the merchant.

The registration flow is extremely easy. Billplz requires merchants to provide the company registration number, email, company’s name, and company’s bank account.

Billplz Membership Plans


PayPal creates better ways to manage and move money, and offers choices and flexibility when sending payments, paying or getting paid.

Paypal is committed to democratizing financial services and empowering people and businesses to join and thrive in the global economy.

PayPal is widely accepted by online merchants in Malaysia.

Many e-commerce websites, small businesses, and individuals use PayPal as a payment method.

However, it’s always a good idea to check if the specific merchant or seller accepts PayPal before making a purchase.

The popularity of PayPal has largely been due to the ease and security that it provides. In PayPal, you pay only when you sell.

In this way, you are protected against the risk of having to pay service fees when there are no sales.

Standard rate for receiving domestic transactions: MY – 3.90% + fixed fee (2.00 MYR)

Related: PayPal Merchant Fees


Stripe builds the most powerful and flexible tools for internet commerce.

Whether you’re creating a subscription service, an on-demand marketplace, an e-commerce store, or a crowdfunding platform.

Stripe’s online payment processing tools include Support for credit cards, ACH, localized payment methods, Support for online and in-app checkouts, a pre-built embeddable checkout form (Checkout), the ability to build a form from scratch or using pre-built components (Elements), invoicing, recurring billing and subscription tools.

If you are looking to charge recurring payments to your customers, you can take advantage of Stripe Recurring Billing to streamline your payments.



PayHalal is a Shariah Compliant Fintech API Platform solution, offering seamless payments right at your fingertip.

It is an Islamic Fintech application that allows users to make and receive payments via their partner Islamic banks while providing merchants with instant secure payments to extend market penetration.

The PayHalal payment gateway allows you to create a checkout page via your website, mobile app or in-store for the convenience of your Muslim shoppers and users.

With PayHalal, you can be assured of safety, speed, and absolutely no riba.


GHL Systems Berhad (eGHL) was founded in the Year 2013 March.

eGHL offers a secure Internet payment solution, covering both cards and non-cards payments channels across Southeast Asia.

eGHL complies with Malaysia’s Financial Services Act 2013 and is regulated as a non-bank acquirer by Bank Negara Malaysia.

The benefits of eGHL include:

  1. Multiple Payment Options: eGHL supports various payment methods, including credit cards, online banking, and e-wallets, allowing customers to choose their preferred payment mode.
  2. Global Reach: eGHL enables merchants to expand their business globally by accepting international payments in multiple currencies.
  3. Enhanced Security: With advanced fraud detection and prevention measures, eGHL ensures secure transactions and protects merchants and customers from potential risks.
  4. Seamless Integration: eGHL provides easy integration with popular e-commerce platforms, making it convenient for businesses to set up and start accepting online payments quickly.
  5. Reliable Customer Support: eGHL offers dedicated customer support to assist merchants with any inquiries or technical issues they may encounter.


Boost eWallet App

Boost is a popular online payment gateway in Malaysia that provides users with a seamless and secure digital payment experience.

With Boost, users can make purchases, transfer money, and pay bills directly from their mobile devices, eliminating the need for physical cash or cards.

Boost offers several benefits, including easy mobile payments that enable users to conveniently pay for goods and services using their smartphones.

The platform prioritizes security, employing advanced encryption and authentication measures to protect user data and ensure secure transactions.

Boost Business Account

Boost also stands out for its promotions and rewards, frequently offering discounts, cashback, and other incentives to users.

This adds value to the payment experience and encourages users to choose Boost as their preferred payment method.

The platform enjoys wide acceptance among merchants in Malaysia, including retail stores, restaurants, and online platforms.

This extensive merchant network allows users to utilize Boost for various transactions across different establishments.

In addition to merchant payments, Boost facilitates peer-to-peer transfers, making it effortless for users to send money to friends and family.

Furthermore, Boost enables users to conveniently pay utility bills, streamlining the bill payment process and saving users time and effort.

However, the Merchant Wallet also has a credit limit, similar to the Consumer Wallet, which is determined based on the approval from Bank Negara Malaysia.

Credit limit for Merchant Wallet
View for more details:


GrabPay is a popular online payment gateway in Southeast Asia, including Malaysia, that offers users a convenient and secure way to make digital transactions.

With GrabPay, users can easily pay for various goods and services, transfer money, and even top up their mobile credit directly from their Grab mobile app.

GrabPay provides several benefits to users, including:

GrabPay online ewallet

  1. Seamless Payments: GrabPay offers a seamless payment experience, allowing users to make quick and hassle-free transactions through their mobile devices.
  2. Secure Transactions: GrabPay prioritizes security and employs advanced encryption and authentication measures to protect user data and transactions, ensuring peace of mind for users.
  3. GrabRewards: Users can earn GrabRewards points for every transaction made using GrabPay, which can be redeemed for discounts, vouchers, or even free rides on the Grab platform.
  4. Wide Acceptance: GrabPay is widely accepted by various merchants, including both online and offline establishments, providing users with numerous options to use GrabPay for their transactions.
  5. Cashless Convenience: GrabPay eliminates the need for physical cash, allowing users to go cashless and enjoy the convenience of digital payments anytime, anywhere.

Touch ‘n Go eWallet

Touch ‘n Go eWallet is a prominent online payment gateway in Malaysia that offers users a convenient and efficient way to make digital transactions.

With Touch ‘n Go eWallet, users can easily make payments, transfer money, and enjoy various benefits. Here are some of the key benefits and selling points of Touch ‘n Go eWallet:

  1. Seamless Payments: Touch ‘n Go eWallet allows users to make quick and hassle-free payments through their mobile devices, eliminating the need for physical cash or cards.
  2. Wide Acceptance: The eWallet is widely accepted by a growing number of merchants across Malaysia, including retail stores, restaurants, online platforms, and even government agencies, providing users with extensive options for transactions.
  3. Promotions and Cashback: Touch ‘n Go eWallet frequently offers promotions, discounts, and cashback rewards to its users, making transactions more rewarding and cost-effective.
  4. Convenient Utilities: Users can conveniently pay for utility bills, such as electricity and water, directly from the app, streamlining the bill payment process and saving time and effort.
  5. Secure and Trusted: Touch ‘n Go eWallet prioritizes security, employing advanced encryption and authentication measures to ensure the safety of user data and transactions.

Comparison: Top 8 Malaysia Online Payment Fees 

Payment Gateways Setup Fees Annual Fees  Transaction Fees Supported e-Wallet
1. iPay88 SME Plan: RM 488SOHO Plan: RM 488 SME Plan: RM500 per yearSOHO Plan: FOC SME Plan:

  • VISA/Mastercard payments: 3%
  • Malaysia online banking and e-wallet services: 2-4%

SOHO Plan:

  • VISA/Mastercard payments: 4%
  • Malaysia online banking and e-wallet services: 4%
Boost, Touch n Go, Grabpay, MCash, , Paypal, Shopee Pay, WeChat Pay, Alipay, Razer Pay, VCash
2. eGHL Standard Plan: RM 488Premium Plan: RM 888 Standard Plan: RM 600Premium Plan: RM 800 Standard Plan:

  • Visa/Mastercard payments: 2.5%
  • Malaysia online banking: 1.8%
  • e-wallets (e.g., GrabPay, Boost): 1.8%

Premium Plan:

  • Visa/Mastercard payments: 2.2%
  • Malaysia online banking: 1.5%
  • e-wallets (e.g., GrabPay, Boost): 1.5%
Boost, Touch n Go, GrabPay, ShopeePay, AliPay, WeChat Pay,  Mcash, Razer Pay, FavePay
3. Razer Merchant Services (RMS) Lite Plan:RM499Premium Plan: RM400 Lite Plan:RM99Premium Plan: RM499 Visa, Mastercard, American Express: Transaction fee typically ranges from 2.5% to 3.5% per transaction, depending on the merchant’s agreement with RMS.

FPX (Internet Banking): Transaction fee typically ranges from RM 0.60 to RM 1.00 per transaction, depending on the merchant’s agreement with RMS.

Razerpay, GrabPay, Boost, Touch ‘n Go eWallet, Boost, AliPay, WeChat Pay, UnionPay: Transaction fee typically ranges from 1.5% to 2.5% per transaction, depending on the merchant’s agreement with RMS.
4. senangPay No application and setup fees when registering with senangPay. Basic– RM300Advanced– RM450

Special– RM1500

A minimum charge of RM0.65 or as stated below (whichever is higher) is applicable to all Credit Card, Debit Card, and e-Wallet Paymentse-Wallet: 1.5% per successful transaction

Local Credit Card (Visa/Mastercard): 1.8% – 4.1% per successful transaction

A minimum charge of RM1.00  or as stated below (whichever is higher) is applicable to all FPX Payments

Online Banking (FPX): 1.5 – 2.0% per successful transaction

Boost, Touch-n-Go e-Wallet, GrabPay, Shopee Pay
5. Billplz No Setup Fee Basic– NoStandard– RM5,300/year

Enterprise– Custom

FPX FeesOnline Banking Basic – RM1.00

Standard– RM0.50

Enterprise – Subject to Bank’s offer

Credit and Debit Card: 1.8% for Basic & Standard plans

Wallet: 1% to 1.4%

Boost, Touch-n-Go e-Wallet, GrabPay, ShopeePay,
Maybank QRPay
6. Stripe No Setup Fee No Annual Fee Credit and Debit Card: 3% + RM1.00 per successful card charge +2% if currency conversion is requiredBank debits and transfers: 3% + RM1.00 (FPX)

Digital wallets: 2.9%+RM1.00 (Alipay), 3% (GrabPay)

Alipay, GrabPay, Apple Pay, Google Pay
7. Paypal No Setup Fee No Annual Fee Malaysia 3.9% + RM2.00 Overseas 4.4% + RM2.00  No 
8. Payhalal SME Plan: RM 2000SOHO Plan: RM 500 SME Plan: RM 500SOHO Plan: RM 200 SME Plan:Domestic Credit Card: 1.95%

International Credit Card: 2.65%

FPX (B2C): 1.95% or RM0.60 (whichever is higher)
*Up to RM 30,000 per transaction

FPX (B2B): 1.80% or RM2.00
*Up to RM 1,000,000 per transaction

eWallet: 1.5%

SOHO Plan: Domestic Credit Card: 2.25%

International Credit Card: 3.25%

FPX (B2C): 2.25% or RM0.60 (whichever is higher)
*Up to RM 30,000 per transaction

FPX (B2B): 2.25% or RM2.00
*Up to RM 1,000,000 per transaction

eWallet: 1.5%

Pay Per Use:

Domestic Credit Card: 2.50% + RM 1.00

International Credit Card: 3.50% + RM 1.00

FPX (B2C): 2.50% + RM1.00

FPX (B2B): 2.50% + RM2.00

eWallet: 1.5%

Boost, MPay

Choosing a payment gateway is not as easy as it seems. You need to consider the payable fees (annual fee, setup fee, transaction fee), the maximum amount the payment gateway can provide, security, currency, reliability, support, etc.

For a faster setup of payment gateway without monthly fees, go for Stripe and PayPal (however, with higher transaction charges). 

On the other hand, for senangPay, Billplz, iPay88, RazerPay, eGHL, and PayHalal, despite having low transaction charges, some of them are able to handle Boost, TouchnGo, and other e-wallets, making it easy for your customers to make both online and offline payment for their purchases.

By offering eWallet payment, you can reduce the time spent to fulfil the transactions.

After your customers are connected to their eWallet, they will be able to pay for their purchases instantly.

We hope this blog post helps you decide on the payment gateway for your eCommerce store.

If you need an online store that’s ready with a powerful payment gateway, Exabytes provides web design services that are reliable and affordable, and we can help you deliver your products worldwide.

The best part? Your online store will be ready in 3 days! 

For more info, please feel free to get in touch with our friendly staff at [email protected]

*Subject to Tax


Last Updated: June 2023. This Top Malaysia Online Payment Solutions in 2024 blog post is for reference only. Information may be different from the date of publication and we do not guarantee the accuracy of the information shared. 

Below is the infographic featuring the top 8 Malaysia online payment gateways you should know:


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Ahmad Tarmidzi Bin Mohd Sofie
Ahmad Tarmidzi Bin Mohd Sofie
1 year ago

Great input thank you very much editor

Martin Tang
Martin Tang
5 months ago

You’re welcome. I hope this will help you choose the best payment gateway or solution for your business.

Tomy Store
Tomy Store
9 months ago

I will try it, thank you

Martin Tang
Martin Tang
5 months ago
Reply to  Tomy Store

Glad you find the list helpful. Feel free to comment on which payment gateway should be included in this list.