Malaysia Payment GatewayIpay88, Billplz or Senangpay?
When it comes to e-commerce website for Malaysia market, one thing that we need to take care is payment gateway platform. In Malaysia, we have variety of choices such as iPay88, Billplz, SenangPay, e-GHL and MOLPay. Ipay88 and MOLPay can be considered as ‘giant player’ in the market, but what about the others? Here we will give some comparison among them :
iPay88 : Suitable for big marketplace
iPay88 can be considered as the biggest player and the most stable payment gateway platform for Malaysian market. They charge RM488 for one time registration fee, hence this is not the cheapest payment gateway platform for small e-commerce website. But, the advantages are they can integrate with most E-Commerce CMS platform such as WooCommerce, Shopify, Opencart, Prestashop and Magento. They also can integrate well with some WordPress plugins such as Gravity Forms. Ipay88 also have recurring payment function, suitable for membership site payment. Ipay88 have two plans which is SME Plan and Soho Plan. SOHO plan is specially designed for online merchants that do not want to pay for the maintenance fee especially individual or SOHO type of online business owner. This plan only suits online retailers with a monthly online turnover of less than RM 4,000. Otherwise, please refer to the Small / Medium Business (SME) Plan.
SenangPay : Suitable for startup with lower cost
Senangpay can be considered as newcomers in Malaysia Payment Gateway market. Based on our experience, the registration flow is easier compare to Ipay88. They also have lower charge rate to their merchant which is 2.5% per transaction compare to ipay88 (4% for their SOHO Plan). Just like iPay88, they can integrate with many E-Commerce CMS such as Woocommerce and Opencart. But currently, they don’t have integration with WordPress Gravity Form, Shopify Platform, or even Joomla platform. But they have recurring payment functions which is suitable for Membership Site. They have three plans (with yearly fees) which is Basic (RM300), Advanced (RM450) or Special (RM1500) package that suits you.
BillPlz : Best Choice for Start-Up!
To be honest, this is our favourite choice when it comes to selecting best Malaysia Payment Gateway platform. Not only their merchant charges is extremely low, which is RM1.50 per transaction, the registration flow is also extremely easy. What they need are your company registration number, email, company name and company bank account. They only take 3 working days to activate your account. They also can works well with Woocommerce, WordPress Gravity Form, and also Opencart Development. They also have recurring payment function, suitable for membership site.