E-commerce must-see: a guide to integrating Malaysian payment gateways

E-commerce must-see: a guide to integrating Malaysian payment gateways

Why choose Malaysia Payment Gateway?

When expanding into the Malaysian e-commerce market, localised payment solutions are crucial. Malaysian consumers prefer diverse payment methods, including:

  • Bank transfers (FPX)
  • E-wallets (GrabPay, Boost, Touch 'n Go eWallet)
  • Credit/debit cards
  • BNPL (Buy Now Pay Later) Service
  • Convenience store cash payments

Comparison of Mainstream Malaysian Payment Gateways

1. iPay88

cutting edge::

  • Supports FPX transfers from over 20 local banks
  • E-wallet integrations like GrabPay and Boost
  • Well-documented API and fast technical response
    tariff: Approx. 2.5%-3% Transaction Fee + RM0.50 per transaction

2. Billplz

specificities::

3. SenangPay

cutting edge::

  • Supports FPX bank transfers (covers major banks like Maybank, CIMB, etc.)
  • Credit/debit card payment options available (Visa, Mastercard)
  • Suitable for small and medium-sized businesses, simple integration, no monthly fees
    tariff: Approx. 1.5%-2% Transaction Fee + RM0.50/transaction

4. PayNet (DuitNow QR & FPX)

specificities::

  • Malaysia's national payment network with high coverage (supported by almost all local banks)
  • DuitNow QR for e-wallet scanning payments (Boost, Touch 'n Go, etc.)
  • FPX real-time bank transfers, with funds going directly to the merchant's account
    Applicable Scenarios: B2C e-commerce, offline retail shops available

How to choose the right payment gateway?

✅ consideration

  1. Target customer group preferences:

    • Younger users prefer e-wallet/GrabPay
    • Traditional consumers may be used to FPX or credit cards

  2. transaction cost:

    • FPX is usually cheaper than credit cards (1%-2% vs ~3%)
    • BNPL Service May Charge Higher Fees But Increase Conversions

  3. Difficulty of technology integration:

    • iPay88/SenangPay is suitable for teams with development capability
    • Shopify/WooCommerce Merchant Optional Pre-Installed Plugin Solution

  4. Settlement Period and Withdrawal Fee:
    T+3 settlement for some gateways, some need to withdraw cash manually and charge a handling fee

[Hands-on] How to access Shopify/WooCommerce?

🛒 Shopify Merchant:

1️⃣ Select "Payment Providers" → "Alternative Payments" in the Shopify backend.
2️⃣ Search for and enable the official iPay88/SenangPay plugin (or through a third party such as Stripe Malaysia Agency)
3️⃣ API key configuration after testing sandbox environment

🌐 WooCommerce standalone site:

We recommend installing the "WooCommerce Malaysian Payment Gateways" plugin package for one-click FPX/DuitNow integration.

💡Expert Advice

✔️ offers at least two mainstream methods (e.g. FPX + e-wallet), conversion rate can be increased by 30%+
✔️ BNPL option can be added for high unit price items (Atome, GrabLater, etc.)
✔️ regularly optimises the checkout process - Malaysian users have an abandonment rate of 40% due to complex payment steps!