When you want to start your Shopify ecommerce business in Malaysia, researching payment gateways available here is a crucial step you need to take. This is because your customers may easily abandon their shopping carts if you don’t use the best payment gateways for Shopify. In this article, we will list all payment gateways and compare what is the best payment gateway for Shopify in Malaysia.
Stripe – preferred payment gateway for Shopify in Malaysia
The top payment gateway for Shopify users that enables credit card payments is Stripe.
With Stripe, you have access to a variety of adaptable options to personalize your checkout process. Credit cards, wallets, and foreign currencies are just a few of the many payment methods that Stripe-using merchants can accept both offline and online.
With credit card, debit card payment, bank debit and transfers, Stripe charges a predetermined fee of 3% + RM1.00, and +2% if there is a requirement for currency conversion. All cards have the same cost. For international cards or unsuccessful charges, there is no extra charge.
With digital wallet, Stripe accepts Alipay and Grabpay. For Alipay, they charge 2.9%+RM1.00. Meanwhile, for Grabpay, they charge 3% per transaction.
Learn more about Shopify pricing plan here.
2Checkout – third-party payment gateway for Shopify in Malaysia
Another top third-party payment option for Shopify is 2Checkout, which enables you to accept online credit card payments from both domestic and international clients.
There are currently more than 200 countries where 2Checkout is active. It accepts all popular credit cards, including Mastercard, Visa, Diners Club, and others.
There are three payment options that 2Checkout offers for your business in Malaysia: 2SELL (charge 3.5% + $0.35 per successful sale); 2SUBSCRIBE (charge 4.5% + $0.45 for each successful sale); and 2MONETIZE (charge 6.0% + $0.60 per successful transaction).
2C2P – integrated payment solution in Malaysia
Established in Southeast Asia in 2003, 2C2P has expanded to include over 400 professionals worldwide such as Lazada, Lenovo, AirAsia, etc.
2C2P offers your consumers their preferred payment method including cards, digital wallets, and cash. There is a setup fee of RM500 and an annual fee of RM500 when you use this payment gateway. The commission per sale are:
2.5% – 3% per transaction for credit cards and RM1.50 rate for bank transfers.
Alipay – payment gateway for Shopify in Malaysia from China
Alipay provides your consumers their preferred payment method at more than 400,000 sites throughout Asia, including cards, digital wallets, and cash. There are 12 currencies that it presently supports: USD, GBP, JPY, EUR, AUD, CAD, CHF, SGD, DKK, SEK, HKD, and NOK.
iPay88 – quick and easy payment gateway for Shopify in Malaysia
Leading online payment gateway provider in Malaysia, iPay88 provides both domestic and foreign payment alternatives. For companies searching for a dependable and feature-rich payment gateway, iPay88 is a great choice. You can add several payment options to iPay88 on a desktop or mobile app, including email payments, shopping cart plug-ins, simple payment plans, and more. Noticeably, iPay88 charges your business setup, annual and transaction fees. In addition, iPay88 doesn’t support Visa and MasterCard.
Paypal – payment provider for Shopify in Malaysia
PayPal is an additional choice on the list of the top payment processors for Shopify that you should be aware of. The setup time for this solution is no more than a day. Additionally, you have a choice between free and premium account alternatives.
Any of your Shopify plans can activate PayPal, which has an excellent support staff. A minimum fee of 1.9% to 3.4% of all transactions is also included.
PayPal Payments Pro is the name of the company’s version. This is most chosen because of its reliable performance, adaptability, and compatibility for mobile devices.
Because it enables retailers to make payments without having their customers have a PayPal account, it performs better. As it may be used to handle credit card transactions through phone, fax, and mail (Virtual Terminal), it also offers mobile support.
Today, PayPal has more than 220 million active users worldwide and offers convenient functionalities. It makes sense that it is now the preferred payment gateway in more than 203 nations.
HitPay – a great Shopify payment gateway
You may improve sales and reduce expenses with the support of this great Shopify payment gateway in Malaysia. Numerous online payment options are supported by HitPay Malaysia, including FPX, credit cards (Visa, Mastercard, UnionPay), and e-wallets (Apple Pay, Google Pay, and GrabPay).
Selecting which payment options to show on your Shopify store is simple. The HitPay Shopify payment gateway also provides Smart Checkout, which enables you to tailor payment options based on the order value of your customers.
Additionally, there are no setup fees or ongoing charges for the Malaysian HitPay Shopify payment gateway. Only when a sale is made do you pay, i.e., per transaction.
WorldPay
For both large and small organizations, WorldPay is renowned for offering safe payment services. It has a global presence in 100 countries and has earned a reputation for providing excellent customer service and uptime dependability.
The Worldpay Shopify payment transaction charge is based on your revenue, which is the finest part. Accordingly, based on your level of success, you can reduce spending.
You should note that WorldPay is simple to set up and typically takes 3-5 days to launch.
Asiapay
Asiapay is a leading provider of digital payment gateway services, providing individuals, e-businesses, and banks throughout the world with comprehensive, cutting-edge, and affordable digital payment services and solutions. Their integrated payment options include over-the-counter, debit cards, etc. They have 13 operational offices in Asia, including its headquarters. It has a considerably larger customer base than other Malaysian payment gateways. When you start using this gateway, you should note that the setup fee is 1200 RM and annual fee is 1200 RM. However, you don’t need to charge a fee for each transaction you make. It takes 1-2 days to launch.
Directa24
Directa24 is another fantastic payment processor on the list. You get access to practically all global markets through a single integration. The fact that all transactions are safe and secure with them is the nicest part. The least of your concerns should be transactional insecurity. They accept a variety of payment methods, which makes it a popular option for so many people. There is no setup fee or annual fee you need to charge. However, they support only EUR/USD currencies for transactions. Directa24 takes about 1-7 days to launch.
Conclusion
You may boost your store’s conversion rates and sales by choosing the finest payment gateway for Shopify that is safe, dependable, and easy to use. Therefore, researching carefully before choosing the right payment gateway for your Shopify store in Malaysia is necessary. If you want to build a website that has the best suitable payment gateway, Scuti is here to help.