Malaysia Payment Gateway Comparison 2023 Helps To Choose The Best Payment Solutions

 


Payment gateways are one of the most crucial instruments that online retailers should consider as their industry grows.



If you want to sell online, selecting a payment gateway is crucial. How can you pick the most effective payment processor for your company? Choosing the ideal service provider for you will be aided by your knowledge of payment gateway fundamentals.

Based on the quality of their security and dependability, we've selected the top payment gateways Malaysia.

This Malaysia payment gateway comparison (2023) outlines the pros and cons of well-known gateway providers. Additionally, a fair assessment of well-known payment processors. So without further ado, let's get started on Malaysia's top payment gateway.

Top 7 Payment Gateway in Malaysia

Let's have a look at the top payment gateway in Malaysia. It helps you to choose the best one.

eGHL -

eGHL is one of the most popular payment gateways in Southeast Asia. Due to their user-friendly plugins, APIs, and SDKs, eCommerce platforms like EasyStore and SiteGiant make it simple to connect this gateway. Since eGHL cannot be supported on the Shopify sites, integrating it with Shopify will require a few more redirects.

They take pride in designing a smooth payment process for your clients. Redirections can turn off e-citizens. Therefore this calls for a straightforward layout with few of them. Additionally, they give your clients the choice of scheduled payments, guaranteeing that you will always get paid on time.

Pros:

  • It supports instalment and regular payment options

  • Support more than 100 payment channels

  • User-friendly Plugin and software

  • Unlimited "Buy Now" buttons to embed

Cons:

  • It does not support all e-commerce platforms.

  • It charges annual, set-up, and transaction fees.

  • Doesn't offer free accounting integrations and business software.

PayCly -

PayCly is one of the world's leading and most popular payment service providers. It is compatible with all types of businesses, either high-risk or low-risk. With PayCly, the merchant can get all the payment-related solutions on one platform. It means the merchant can get the high-risk merchant account, high-risk gateway, and high-risk payment processor on one platform for their high-risk businesses.

PayCly is built especially for high-risk businesses, so you can see that it is the best solution for high-risk industries such as forex, IPTV, adult, etc.

Pros -

  • It complies with PCI DSS level-1 compliance to protect customers' card information. Additionally, it also offers the APT certificate and protocols that aid with the encryption of each transaction.

  • Offers futuristic security tools such as anti-fraud and anti-chargeback tools.

  • Support most credit cards all over the world.

  • Provides multiple payment methods such as e-wallets, net banking, bank transfer, mobile payments, and crypto-currency.

  • Best for the global market as it accepts 100+ international currencies.

  • The integration process is hassle-free and simple.

  • Offer 24*7 real-time reporting and customer support.

  • Affordable pricing structure with no hidden charges.

Cons -

  • Depends on internet

SenangPay -

SenangPay is one of the most famous payment gateways in Malaysia; that was founded in 2015. It collaborates with the most popular Islamic bank and allows merchants to accept most credit/debit cards via their NFC-enabled smartphones and fast payment transactions.

Pros :

  • It supports payment through various social media, email, and payment links.

  • It supports multiple payment types such as multi-currency, e-wallets, recurring payments, mass payments, etc.

Cons :

  • Its annual fees are high and start from RM 450 (RM is Malaysia currency)

  • It takes up to 14 days to set up.

  • It is not compatible with Shopify.

Stripe Payments -

It is the best option if you cater to foreign clients because it is one of the most extensively utilized payment gateways worldwide.

Stripe Payments aims to assist all businesses as they improve their online presence. Whether your firm is a software platform, a marketplace, a subscription-based business, or a retail enterprise is a decent choice. But it's not the simplest software to integrate because it leverages some of the most powerful APIs in the world.

It is simple to issue rewards and receive payments with this payment gateway. You even get business management tools for additional usefulness.

Pros:

  • Does not charge any annual or setup fees

  • Instant onboarding

  • Great for international businesses as it can accept more than 130 currencies

Cons:

  • Its transaction fees are very high.

  • It needs coding experience to install or customize some particular payment options.

  • It does not offer any types of free accounting integrations and business software.

PayPal -

PayPal is one of the well-known payment gateways which is widely used in the entire world. It offers the "Buy Now, Pay Later" options for all payment methods so that customers have more flexible options to make payments.

PayPal provides ways to get paid safely and without a hitch, whether you conduct business over email or through your online stores. You can also design and distribute your personalized email invoices.

Pros:

  • Its services are available in more than 200 countries, making it one of the best payment gateways for international businesses.

  • It supports 25+ currencies.

  • It also offers an option for the customer to make instalment payments.

  • Provides futuristic seller protections.

Cons:

  • It does not support any local payment methods such as FPX or GrabPay

  • Have limited integration with e-commerce platforms.

iPay88 -

Security and fraud prevention comes first with iPay88, a payment gateway. To ensure this, they are PCI DSS certified and registered with Bank Negara Malaysia.

Since iPay88 offers cutting-edge payment solutions via Mobile Apps, POS integration, and Terminals, it's safe to conclude that integrating it into your online presence is fairly simple.

If you provide services or subscriptions, you'll be happy to learn that this payment gateway provides choices for recurring payments. It makes fantastic for both giving and paying expenses. Payment links can be sent to customers via emails, direct website links, or social media pages. E-invoices can be issued to your client with these alternatives.

Pros :

  • It offers recurring payments.

  • It supports approx 37 payment channels.

Cons :

  • It has limited payment options.

  • Also, it does not support international Visas and MasterCards.

  • Charges for annual, set up, and transaction fees.

Razer Merchant Services -

Razer is another one of Southeast Asia's most popular payment gateway, established in 2005. It offers alternative payment options for customers. It is complied with the PCI DSS level-1 compliance to protect the customers and merchants.

Pros:

  • It provides end-to-end services from payment processing, logistics support, and performance reporting.

Cons:

  • It charges for the annual, set up, and transaction fees.

  • It offers limited payment options.

Malaysia Payment Gateway Comparison 2023

Let's compare the Malaysia payment gateway 2023. It helps you to decide the best solutions for your online businesses.

Features of Payment Gateway-





Note - Business software includes recurring billing, invoicing software, etc.

Final Thoughts -

The country with the highest levels of development is none other than Malaysia. In the upcoming year, it will become the hub for online businesses. Today, any economy's growth depends on payment channels. In Malaysia, many payment service providers are available, but not all are suitable for enterprises.

Having the finest payment gateway that enables customers to make payments in their currency using their preferred payment methods is crucial for your business in Malaysia. Selecting the finest payment gateway in Malaysia is also fairly difficult.

Above, we pick the top payment gateway in Malaysia. You can choose anyone who fits your business's needs as a merchant.



Feel free to contact us through mail - info@paycly.com or directly drop your query here - https://paycly.com/apply-now.php any time to know more about our services.





Original Content - https://www.linkedin.com/pulse/malaysia-payment-gateway-comparison-2023-






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