If you sell online and you want to accept credit card payments, you will need to sign up an Online Payment Gateway Services. Bear in mind, there's no perfect solution, but there's always something best suited your needs.
Quick tips for Payment Gateway Selection
- What's your targeted market? (people, age group, country etc)
- The currency type of your targeted market? Does it support multiple currencies? (USD? AUD? EUR? GBP? MYR? SGD?)
- Is the payment gateway service provider well known and trust-worthy in your targeted market?
- How soon can you get back the money and will it affect your cashflow?
| Online Payment Gateways |  |
 |
 |
 |
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|---|---|---|---|---|---|
Setup Fee  |
Free | RM 488 | Usual Now Free |
USD 49 | RM 499 |
| Annual Fee |
Free | RM 500 (soho plan - zero yearly fee lifetime) |
1st Year - USD $140 2nd Year onwards - USD $280 |
Free | Waived (for firsts 2 years) |
| Transaction Fee |
3.9 % + $0.30 USD (check detailed fee) |
3 % (soho plan - 4%) |
3.95 % | 5.5 % + $0.45 USD (check detailed fee) |
3 % |
| Deposit | No | No | Subject to Review | No | No |
| Payment Remittance |
Payment into PayPal Account Instantly. For Malaysia, supports direct withdrawal to Malaysia Banks and also Visa Debit Cards. |
Weekly Transfer to Bank Account (via Bank Transfer) | 4 weeks - Transfer to Bank Account (via TT) | 5 weeks - Transfer to Bank Account (via TT) Details here |
Weekly Transfer to Bank Account (See NBePay Remittance Chart) |
| Accepted Currencies |
23 International Currencies (USD, RM, Euros, GBP, Yen, SGD and more currencies) |
RM Only (USD also supported, requires separate application) |
Up to 120 Type Currencies | 12 International Currencies (See details) |
RM Only |
| Minimum Amount for Withdrawal | See PayPal details here | RM 100 | See RBS WorldPay details here | See 2Checkout details here | RM100 (RM 2 per withdrawal) |
| Application Approval Time | Immediate (Get Your Credit Card ready for verification) |
2 working days | 5 working days | Immediate Online | 5 working days |
| Benefits | * Easy sign up * No setup or monthly fees * International presence * 170 Million+ users * Good for selling worldwide * Owned by Ebay * Large PayPal user base ~ 180 million |
* Support Malaysia Online Bank Transfer * Offer International Gateways - multiple currencies * Low transaction fee * Short settlement period * MOTO * After sales service * Free ad on mobile88.com * Notified by Bank Negara Malaysia (Payment System Act 2003) |
* World Recognized * High Trust * Very Reliable Payment Gateway * Support Most Currencies Type * MOTO * Good for selling Worldwide * Owned by RBS Bank * Support PayPal (Uk only. T&C Apply). |
* Low setup fee * Easy sign up * No monthly or gateway fees * Low startup cost |
* Support Malaysia Online Bank Transfer * Low transaction fee * Notified by Bank Negara Malaysia (Payment System Act 2003) |
| Malaysia Online Bank Transfer | N/A | Alliance Online Am Online CIMB Clicks EON Online Hong Leong Online Maybank2u RHB Online FPX (Maybank2U, HL Online, RHB Online, Bank Islam, PbeBank, CIMB Clicks) |
N/A | N/A | Alliance Online Am Online CIMB Clicks EON Online Hong Leong Online Maybank2u RHB Online FPX (Maybank2U, HL Online, RHB Online, Bank Islam, PbeBank, CIMB Clicks) |
| Works with |
miniStore sohoStore bizStore |
sohoStore bizStore |
sohoStore bizStore |
sohoStore bizStore |
sohoStore bizStore |
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| Learn more | * PayPal Withdrawal Fee * PayPal Worldwide Offering * See PayPal Learning Centre * PayPal Shopping |
* See iPay88 Learning Centre | See Worldpay application process Note: RBSWorldPay no longer supports Malaysia Merchants. Contact RBSWorldPay sales at +65 6 339 9892 (Singapore Branch) |
2CO Customer Care Department | Additional Forms for Applications * Director's Resolution * Letter of Agreement |
| Twitter or Facebook? | * Follow PayPal on Twitter * Join PayPal Shopping Facebook |
* Follow iPay88 on Twitter * Join iPay88 Facebook page |
Follow 2Checkout on Twitter |
* This payment gateway comparison table is for information purposes only. WE MAKES NO WARRANTIES, EXPRESS OR IMPLIED, AS TO THE INFORMATION IN THIS WEB PAGE. The names of actual companies and products mentioned herein may be the trademarks of their respective owners.
