Top 8 Malaysia Online Payment Solutions in 2021



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 in 2021.



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.




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.


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. Two plans are available for their payment gateway services: RMS Lite Plan and RMS Premium Plan.



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.



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. 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.



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.




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. 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.



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.


Comparison: Top 8 Malaysia Online Payment Fees 

Payment Gateways Setup Fees Annual Fees  Transaction Fees Supported e-Wallet
1. iPay88 SME Plan: RM 488

SOHO Plan: RM 488

SME Plan: RM500 per year


SME Plan:*2.7% per transaction or minimum *RM 0.60 whichever is higher for online banking (e-debit)

SOHO Plan: *3.0% per transaction for Visa/Mastercard credit card. *2.5% for debit card.
*2.7% per transaction or minimum *RM 0.60 whichever is higher for online banking (e-debit)
Zero withdrawal fees

Boost, Touch n Go, Grabpay, MCash, Maybank QR Pay, Nets QR, Paypal
2. eGHL RM 499 RM 25.00 for transaction volume less than RM 15,000 per/month

Waived if monthly volume exceed RM 15,000

Cards *2.5% MYR per processing + 1% non-MYR processing + MYR 0.50 for ticket size less than MYR 40.00

Non-Card *2.5% or RM 0.50 (Whichever is higher)

Boost, GrabPay, Mcash, MaybankQR Pay, TouchnGo
3. Razer Merchant Services (RMS) Lite Plan:RM499

Premium Plan: RM400

Lite Plan:RM99

Premium Plan: RM499

Lite Plan:3.8% per transaction or minimum RM 0.60 whichever is higher for online banking (e-debit) 

Premium Plan: 2.4% for Visa and Mastercard 

Razerpay, GrabPay, Boost, TouchnGo, Maybank MAE, Shopee Pay
4. senangPay No application and setup fees when registering with senangPay. Basic– RM300

Advanced– RM450

Special– RM1500

The 1.8% charge(or a minimum charge of RM0.65 whichever is higher) is the charge that senangPay charges to the merchant on every credit/debit card transaction on Special Package subscribers account. Applicable for special packages only.

1.5% (or a minimum charge of RM1 whichever is higher) on any transaction that customers made through local supported banks such as Maybank2u or CIMB Clicks, senangPay will charge 1.5% per transaction, regardless the transaction amount. Applicable for all packages.

5. Billplz No Setup Fee Basic– No

Standard– RM150 per month

Enterprise– RM1800 per year

FPX Fees

Basic– RM1.50

Standard– RM1.00

Enterprise- RM0.50

Credit and Debit Card: 2.5% or lower(Standard), 1.5% or lower (Enterprise)

Boost, Paypal
6. Stripe No Setup Fee No Annual Fee 3% + RM1.00 per successful card charge If currency conversion is required, an additional 2% fee will apply. Integrated per-transaction pricing means no setup fees or monthly fees. The price is the same for all cards.  No 
7. Paypal No Setup Fee No Annual Fee Malaysia 3.9% + RM2.00 

Overseas 4.4% + RM2.00 

8. Payhalal SME Plan: RM 2000

SOHO Plan: RM 500

SME Plan: RM 500

SOHO 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: 16th July 2021. This Top 8 Malaysia Online Payment Solutions in 2021 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. 

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