Malaysia's economy is the third largest in Southeast Asia. It's a fast-growing, export-oriented economy with relatively low taxes. The GDP (PPP) of the country has surpassed one trillion dollars, making it one of the biggest markets in the world. 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. Except for cash, no other payment can be made without a payment gateway.
A payment gateway is a fundamental need for any merchant to accept online payment. 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. By transferring the payment details between these involved entities, a payment gateway Malaysia facilitates online payment transactions. As we peeped at the basic payment entities, the other one we need is a merchant account. A Malaysia merchant account allows you to accept, hold and withdraw that received amount. All customer payments are first deposited 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. As per the World Bank, cross-border sales are continuously increasing in Malaysia with the help of international payment gateways. Malaysia is all set to break all previous records for FDI in 2022. It is attracting both international and domestic business owners to expand their operations without hassle. In this fast-growing economy, we are providing the best payment gateway Malaysia along with other payment solutions such as Malaysia merchant accounts, international payment gateways, credit card processing, etc. We are PayCly, the top payment processing company in Southeast Asia, especially in Malaysia.
The process of payment gateway is clarified in this infographic in 5 basic steps; kindly have a look:
Selecting the best payment gateway for your domestic or international business has become difficult because many PSPs claim to be the best, but the truth may differ. Before choosing a Malaysia payment gateway, you must check the following features:
| Basic Features | Simplification |
|---|---|
| Fraud & Chargeback Prevention System | Online fraud has been seen by two out of every three online merchants. In order to protect its merchants from fraud, a PSP must offer cutting-edge fraud prevention techniques, including encryption, tokenization, SSL, SET, AVS & CVV checker, fraud score, geolocation tracking, 3D secure authentication, and other fraud protection features in addition to PCI-DSS compliance. Additionally, it must use three-tier chargeback protection methods to prevent chargebacks. Note: PayCly's payment gateway & high-risk merchant account has all these security features as well as we use other futuristic tools like AI and ML to eliminate potential fraudulent activity. |
| Alternative Payment Methods | According to a Statista study, the preferred payment methods differ from state to state; for example, in America, just like in Europe, the use of credit or debit cards is more common than any other type of payment. Digital wallets, however, dominate credit cards and other payment options throughout Asia-Pacific. Therefore, a company that processes payments must support a wide range of payment options. Note: PayCly's payment gateway Malaysia supports more than 100 different payment methods, such as local payment methods, credit or debit cards, wire transfers, cryptocurrencies, etc. |
| 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: PayCly's international payment gateway accepts more than 150 international currencies. |
| 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 supports all high-risk businesses and provides its high-risk merchant account and high-risk payment gateway to both regulated and unregulated merchants. |
| 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. Integration should also be quick and simple. Note: PayCly provides customized services to all merchants and integrates accounts on the same day. |
| Timely Pay-out | The best payment gateway service providers offer pay-outs timely. Ask about the pay-out time frames before selecting. 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 saw, Malaysia is an emerging international market breaking the record in Investments. In this country, any business setup may help you grow faster than in any other country. 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. PayCly offers the best payment gateway at the lowest MDR in Malaysia. We consider our merchant as a partner, not a client. Kindly connect with our support team for further information at https://paycly.com/.
Any company that wants to accept online payment via 100+ payment modes, including credit or debit card, net banking, wire transfer, crypto, etc.
PayCly is the best high-risk payment processing company, offering state-of-the-art high-risk merchant accounts and payment gateways to all high-risk businesses, including casinos, gambling, adult toys, escort services, tobacco, e-cigarettes, online dating, fantasy games, etc. 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 |
