November 3, 2021 Enrique Iceglesias

Malaysia Payment Gateway; Billplz, SenangPay or iPay88?



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, MOLPay and also ToyyibPay. Ipay88 and MOLPay (currently rebrand theirself as Razer Payment) can be considered as ‘giant player’ in the market, but what about the others? Here we will give some comparison among them (actually there’s a lot more Malaysia Payment Gateway, but we only review based on our real experience). Let’s go :

iPay88 : Good Choice For Big Corporation

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. They charge 3.5% to 4% (depends on their packages) for every transaction and settlement process is once a week.

SenangPay : Suitable For Any New Business With Lower Cost Per Year

Senangpay can be considered as newcomers in Malaysia Payment Gateway market. But to be honest, we love their package and support. Based on our experience, the registration flow is much easier compare to Ipay88. We pay today, and we can use their payment gateway with our Woocommerce store the next 2-3 days. How cool was that? (but only enable for FPX/local bank. To enable credit card, we need another 14 working days for bank approval).

They also have lower charge rate to their merchant which is 1.5% per transaction for FPX and 2.5% for credit card payments, compare to ipay88 (4% for their SOHO Plan). Means, if customer bank in to you RM100 using their local bank, Senangpay will only take RM1.50 per transaction, which for us it’s quite good! Their settlement process is twice per week, which is Wednesday and Friday.

Just like iPay88, they can integrate with many E-Commerce CMS such as Woocommerce and Opencart. They also have  integration with WordPress Gravity Form, which we really love it. You can also subscribe their Advanced Package (RM450 per year) if you want to have recurring payment, split settlement or even participate with their affiliate program. You can also subscribe their basic plan for only RM300 per year if you only want to accept Touch n Go ewallet payment, Boost or GrabPay. They also have Special Package where they only charge 1.8% per transaction (credit card transaction charges), but their yearly renewal is quite expensive, which is RM1500 per year. We never had experience with their Special Package, but if you have big e-commerce store, we think this package is for you 🙂

In order to register your Senangpay account, you need to provide them with some of your business information such as :

  • your business email address
  • contact/telephone number
  • registered business name and SSM number
  • your business social media platform (facebook or twitter or instagram link)
  • your website URL (make sure to include http://)
  • your business bank account name and bank account number
  • Year you start your business and estimated monthly revenue

You can refer their charges below:

BillPlz : Best Choice For Small Businesses

To be honest, last time, this is our favourite options when it comes to find best Malaysia Payment Gateway platform for very new businesses. Not only their merchant charges is extremely low, which is RM1.50 per transaction, the registration flow is also extremely easy and free(for Basic Package).

They also can works well with Woocommerce, WordPress Gravity Form, and also Opencart Development. To register, you need to register with Plzlogin and provide them with your business details such as Email, mobile number, mykad, bank name, bank account number and bank account statement header.

However, if you want to accept credit card payment, you need to sign up with their Standard Plan, which will cost you RM150 per month. For us, this is quite expensive compare to SenangPay payment gateway where we can only pay RM300 per year to accept payment from local banks through FPX and also Credit Card transactions.

"In the information age, build a website before you build a workplace."

Amit Kalantri


At ICEINK, we take care your website from emails, databases, web file, design, search engine optimization (SEO), payment gateways integration and many thing related to website design & development.

We are based in Johor Bahru (Malaysia). Got business ideas and want to transform your ideas into website? Contact Us Now and let’s schedule physicals or online meeting (Zoom & Google Meet).

Comments (3)

  1. Hi, hello, i would like to enquire regarding payment, can anybody from your part to respond by email or call me at 0123558400, thank you, Best regards

  2. Jeffrey Chieng

    Hi, would like to know any payment gateway suitable for new e-commerce comer that operate e-store under personal name, e.g domain .my

    • Hi Jeffrey Chieng, if .my domain, you can purchase using your personal info. no need SSM. For payment gateway register under you name, we never had experience on that, but, based on research, i think now you can use WISE as payment gateway for Woocommerce. you can open personal WISE account, and connect with Woocommerce store.

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