Malaysian economy comes at the third place in terms of size of economies in Southeast Asia. It is an export-driven economy that is expanding quickly and has low taxation. The nation is among the largest markets in the world, with a GDP (PPP) above one trillion dollars. Internet penetration has also reached 90%, and people are actively adopting advancement in this upper middle-income nation. In support of this fact, a new report indicates that more people prefer using online payment rather than offline. Without a payment gateway, no other payment can be made except with cash.
Any merchant that wants to take online payments must have a payment gateway. Simply put, it is a middleman that connects the merchant account, acquirer bank, issuer bank, and card company and transfers the payment information between them. Online payment transactions are made possible by a payment gateway Malaysia by sending the payment data between these participating companies. A merchant account is the additional payment entity that we require after looking at the fundamental ones. You may accept, retain, and withdraw the money you've been paid using a Malaysian merchant account. Every payment made by a consumer is initially placed into your business merchant account. Later on, you can transfer this amount to your regular bank account.
Malaysia is a business-friendly country ranked 12 out of 190 countries in ease of doing business. According to the World Bank, Malaysia's cross-border sales are steadily rising thanks to foreign payment gateways. In 2022, Malaysia is expected to surpass all prior FDI records. It is attracting both international and domestic business owners to expand their operations without hassle. We provide the greatest payment gateway Malaysia in this rapidly expanding market in addition to additional payment options including credit card processing, international payment gateways, Malaysia merchant accounts, etc. We are PAYCLY, the top payment processing company in Southeast Asia, especially in Malaysia.
This infographic breaks down the payment gateway process into 5 simple steps. Please take a look:
It's challenging to choose the ideal payment gateway for your local or global company because so many PSPs make exaggerated claims about how great they are. You should look for the following characteristics in a Malaysian payment gateway before selecting one:
Fraud & Chargeback Prevention System: Online fraud has been seen by two out of every three online merchants. A PSP must provide cutting-edge fraud prevention strategies, such as tokenization, SSL, SET, AVS & CVV checker, fraud score, geolocation tracking, 3D secure authentication, and other fraud protection features, in addition to PCI-DSS compliance, to safeguard its merchants against fraud. To avoid chargebacks, it must also employ three-tier chargeback prevention techniques.
Note: We employ additional cutting-edge technologies like AI and ML to weed out possibly fraudulent activities in addition to the security safeguards listed above in PAYCLY's high-risk merchant account and payment gateway.
Alternative Payment Methods: The preferred payment methods vary by state, according to a Statista survey. For instance, in America, as in Europe, credit or debit cards are more frequently used than any other form of payment. But in Asia-Pacific, digital wallets are more common than credit cards and other payment methods. Therefore, a company that processes payments must support a wide range of payment options.
Note: More than 100 distinct payment methods, including local payment methods, credit or debit cards, wire transfers, cryptocurrencies, etc., are supported by PAYCLY's payment gateway in Malaysia.
Multiple Currency Processing: A payment gateway Malaysia should accept as many international currencies as possible to trade hassle-free. Plus, Prices should ideally be displayed in the local currency; otherwise, online stores may lose potential customers.
Note: Over 150 different international currencies are supported by PAYCLY's international payment gateway.
Industry Support: A payment gateway and merchant account provider should offer its services to all high-risk businesses, including casinos, forex, adult toys, escort, IPTV, etc. Also, it should provide high-risk international merchant accounts to both regulated and unregulated merchants.
Note: PAYCLY offers its high-risk merchant account and high-risk payment gateway to both regulated and unregulated merchants, supporting all high-risk enterprises.
Personalized Services: A payment service provider must customize its services per the merchants' needs. It must be equipped with APIs that have been developed in accordance with industry standards. Additionally, integration ought to be swift and easy.
Note: PAYCLY integrates accounts the same day and offers all merchants personalized assistance.
Timely Pay-out: The best payment gateway service providers offer pay-outs timely. Prior to choosing, enquire about the payout schedules. The usual pay-out varies from business to business and may be weekly or biweekly.
Note: PAYCLY provides timely payout (payment settlement) to all merchants.
Customer Support: Customer Support Available 24/7 An international company's core competency is customer assistance. Customer service should be provided in local and foreign languages, offering simple and rapid fixes for any problems.
Note: For each merchant, PAYCLY has designated a specialized support manager who will be available 24/7.
As we've seen, Malaysia is a developing global market that is shattering investment records. Any business arrangement in this nation might enable you to expand more quickly than in any other. To merchants looking to expand their businesses locally and internationally, we are providing the best payment solution in Malaysia. Although we have analysed many payment providers, no one can catch up with PAYCLY due to its customer-centric approach. In Malaysia, PAYCLY provides the greatest payment gateway at the lowest MDR. We consider our merchant as a partner, not a client. Kindly connect with our support team for further information at Online Payment Systems in Malaysia.
Any company that wants to accept online payment via 100+ payment modes, including credit or debit card, net banking, wire transfer, crypto, etc.
The greatest high-risk payment processing provider is PAYCLY, which provides cutting-edge high-risk merchant accounts and payment gateways to all high-risk industries, such as adult toys, escort services, gambling, casinos, e-cigarettes, tobacco, online dating, fantasy sports, and more. We also offer the best credit card processing to Malaysian merchants. We have created a few state-of-the-art merchant accounts with high-risk and sector-specific features in which we have ample experience; they are listed below:
Casino Merchant Account | Forex Merchant Account |
E-Commerce Merchant Account | Fantasy Gaming Merchant Account |
Escort Merchant Account | Adult Toys Merchant Account |
Dating Merchant Account | E-Cigarettes Merchant Account |
Tobacco Merchant Account | SMM Panel Merchant Account |