Are you looking for the best payment gateway Malaysia? It is the right destination for you if your answer is yes.
Recently, Malaysia has become one of the finest emerging markets for startups looking to grow. In comparison to other Southeast Asian countries, Malaysia's GDP growth has been reasonably steady and is higher, making it a popular business location in 2022.
E-commerce in the area will increase in the next years due to more technological and economic developments. If you own an online business, you've probably heard of Malaysian consumers because that country is a hub for e-commerce.
For any online business, the merchant needs a suitable payment gateway. A payment gateway allows your customer to make online payments securely. Choosing a safe and reliable payment gateway can be essential to the success of your online business.
Therefore, a secure and reliable high-risk payment gateway or international payment gateway is required if you operate an e-commerce website, gaming app, or another online business and wish to start accepting payments from consumers in Malaysia or anywhere in the world.
Here, we will discuss the top 5 best payment gateway in Malaysia.
A traditional payment gateway allows merchants to accept payment from their customers in exchange for goods and services. In a simple sentence - a payment gateway is a mechanism through which customers make payments. Most frequently, payment information is:
A "frictionless" purchase experience across all sales channels and devices is now possible thanks to advancements in gateway technology in the payments sector. A gateway is being utilized for more than just eCommerce. In addition, it can be utilized for -
Make payments a part of the regular software that consumers and businesses use.
However, expanding your online businesses in Malaysia or across the border requires you to safely collect funds from your customer. It would be best if you had a suitable payment gateway, a high-risk merchant account, and credit card processing. Therefore, you must have familiar with the best payment gateway in Malaysia.
So, let's check the top 5 payment gateway in Malaysia -
PayCly is one of the best payment service providers available in Malaysia. It supports all types of businesses, from high-risk to low-risk. It has many years of experience dealing with high-risk businesses, so it completely understands your business requirements.
For example - If you are running a high-risk forex business, then PayCly offers you the best suits forex payment gateway and forex merchant account.
With PayCly, the merchant can get complete solutions in one place. Its features help merchant to run their businesses smoothly.
PayPal is one of the most familiar and widely used payment solutions. It aided the initial global wave of payment democratization. To start up with PayPal, you need a PayPal account. But, PayPal is not commonly used in Malaysia because of the high processing costs and lack of local payment methods.
However, the reputation of PayPal can give your store credibility and boost conversion rates for Malaysians that sell overseas, particularly in the US and UK.
Stripe is one of the world's most popular and fastest-growing payment solutions. It is integrated with many well-known websites and apps online since it is developer-friendly.
You can collect payments from your clients in Malaysia via FPX(Financial Process Exchange) in addition to credit and debit cards.
In Stripe, recurring payments are also set up quite easily. However, they are not currently accessible in Malaysia, Stripe instalment plans.
Paying with an e-wallet is also not yet possible. If you require, you must integrate e-wallets directly or use another payment gateway.
iPay 88 is one of the leading payment service providers in Malaysia. One of Malaysia's first payment gateways was iPay88. It is one of the most advanced payment gateways available as a result.
You can take payments via iPay88 from FPX, credit cards, and even well-known e-wallets. You can accept one-time, regular, and payment plans following your selected package.
You'll be glad to learn that iPay88 directly connects with platforms if you manage an online store there.
Its full suite features are perfect for the startup and also support e-commerce businesses, marketplaces, apps, and more. Its fees are also reasonable.
Worldpay is one of the most well-known payment service providers. It is one of the best gateways in Malaysia. Worldpay supports popular debit, credit cards, and more than a hundred currencies. Furthermore, it focuses on your online security by conducting thorough fraud screening on you and your customers.
In addition to the advantages above, this gateway enables you to email customer payment links. As a result, you don't require a website to accept online payments, which saves you time looking for invoices.
These explanations help to clarify why Worldpay is a popular choice among Malaysian eCommerce store owners.
As many service providers are available, choosing one takes a lot of work. To make your work easy here, we will share some tips to help you decide which payment gateway is best for you. It would help if you asked some queries to determine which is best for your online business. These queries are -
Online commerce is constantly expanding, particularly in Southeast Asia. Most Merchants consider Malaysia to be one of their preferred markets. Most business owners want to grow their brands internationally, so they require a reliable payment service provider. To increase sales, having the appropriate payment channel is crucial.
Above, we have discussed the five best payment service providers in Malaysia. You can go with anyone who suits your business requirements.