PayCly Blog

What Is Payment Gateway Malaysia And How Does It Work?

Are you are running an online business in Malaysia? If Yes, then you must need a suitable payment gateway Malaysia. Best payment gateway Malaysia offers your customers a secure way of making payments online.

Choosing a secure and trustworthy payment gateway is essential to the success of your online business, as is obvious. Consequently, if you are running any kind of online business and want to accept online payments from clients in Malaysia or elsewhere worldwide, then you must contact the PayCly expert team. We at PayCly offer you the best possible solutions for your online businesses. We support high-risk businesses like forex, adult, IPTV, etc. in Malaysia.

Let’s see in detail the payment gateway Malaysia.

What is Payment Gateway Malaysia?

A payment gateway is the latest technology that allows the merchant to accept credit/debit card payments from customers. An acquirer receives, maintains, and transmits credit card information from customers through a payment gateway, a transaction processing technology. After that, it informs the customer of the final outcomes.

In other words, payment gateway Malaysia acts as a middleman between a customer and a business. An online payment gateway Malaysia helps merchants accept credit card payments more easily by serving as an interface between their website and their acquirer.

The sensitive payment information of the consumer is shielded by a payment gateway as it is transmitted via data encryption from the merchant to the acquirer and finally the issuer. The PCI-DSS compliance standard, which also involves annual audits and recertification to verify the standard's validity, specifies the number of stringent guidelines that the gateway must adhere to secure data.

How Does Payment Gateway Malaysia Work?

You know what is Payment Gateway Malaysia, let’s analyse how PayCly payment gateway Malaysia works throughout the payment journey.

  • The customer should enter their card details such as credit card numbers, cardholder’s name, card expiration date, and card verification value number. This sensitive information is securely passed onto the payment gateway Malaysia.
  • Before transmitting the card information to the acquirer, the payment gateway Malaysia encrypts it and does fraud checks.
  • The acquirer delivers the data to the card schemes in a secure manner, which conduct additional fraud checks. The schemes then provide the payment data to the issuer for payment authorization.
  • Once the necessary fraud screening has been completed, the issuer authorizes the transaction. Specifically, it verifies the transaction details and confirms that the cardholder has sufficient cash for the purchase and that the bank account is legitimate. The acquirer receives a message from the card schemes indicating whether the issuer has allowed or refused payment.
  • The payment gateway Malaysia receives the notification from the acquirer with permission or decline, which it then provides to the merchant. Depending on the message, the merchant may either provide a payment confirmation page or request a different form of payment from the customer.
  • Once the transaction has been authorized, the seller may "capture" the buyer's payment into the seller's account. The customer won't be charged until the capture has taken place, but the money will be held in reserve and their card limit will be decreased.
  • If the transaction is accepted, the acquirer obtains the payment funds from the issuing bank and deposits the funds into the merchant account.

What is The Role Of The Merchant Account?

A merchant account is a business bank account necessary for accepting debit/credit cards and electronic card payments. These accounts, which can be issued by organizations like payment service providers, acquirers, and payment gateways, enable companies to quickly and safely accept money from clients. An indication that the merchant is the owner of the payment information submitted to the bank and the recipient of the funds from the online payments is provided by merchant accounts.

The merchant account receives the funds from client payments. The payment gateway Malaysia deposit that amount in the merchant account. Due to this, merchant accounts are essential between the time that customers submit their card information and the time that the acquirer transfers the payments to the business account so that the merchants can collect the money.

With PayCly, you can hassle-free obtain a merchant account. We also offer you high-risk merchant accounts instant approval for your high-risk businesses. Because we maintained professional and healthy relations with most acquiring banks and financial service providers. We need three to seven working days to approve your high-risk merchant account but with all the proper documents.

What are the Security Features of the PayCly Payment Gateway Malaysia?

The top priorities for payment gateways Malaysia are security, compliance, and handling private payment card data. The correct payment gateway like PayCly is a superb place to start when investing in reliable risk management solutions that may assist in identifying and discouraging online fraudulent transactions. Let’s have a look at what you can get with the PayCly payment gateway -

PCI DSS Compliances -

PCI DSS Stands for Payment Card Industry Data Security Standards. It is a set of international security regulations. PCI DSS was designed to protect credit and debit card transactions and stop the exploitation of cardholders' private information. Companies must be PCI compliant while accepting, storing, processing, and transmitting sensitive card information, to effectively avoid fraud.

PayCly offers PCI DSS Level-1 compliance to protect customers and merchants.

Tokenization -

Payment gateways Malaysia additionally protects consumer credit card information by tokenization. The customer's sensitive bank information is replaced by a unique identification - namely a token. It ensures that anyone attempting to intercept your data before it reaches the safe decryption endpoint will only be able to see it in an incomprehensible form.

Customers can only enter their card information once thanks to tokenization, eliminating the need to do it again for subsequent transactions. Since there is one fewer step for customers to complete during checkout on the merchant's website after the initial transaction, using this technology aids businesses in providing simple and safer payment experiences for their clients.

Anti-fraud And Anti-chargeback Tools -

Once you decide to go with PayCly, you can get the futuristic anti-fraud and anti-chargeback tools. It protects you and your customer from fraud.

Final Thoughts -

The online market in Malaysia is growing at a pace. Today, you can get many service providers in Malaysia, but always go with the best one. Above, we have discussed how PayCly works and what security merchants can get with PayCly.

PayCly is one of the best and complete payment solutions for all types of businesses, especially high-risk enterprises. With PayCly, the merchant can get all the possible solutions for their business at the best rate in the market. So, contact the expert team of PayCly to learn more about our services in payment gateway Malaysia.

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