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, ToyyibPay and MOLPay. Ipay88 and MOLPay can be considered as ‘giant player’ in the market, but what about the others? We dont have any experience with the newcomers payment gateway, but we have very good experience with SenangPay payment gateway :
SenangPay : Suitable for any big businesses with lower cost per year
Senangpay can be considered as newcomers as well 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, need another 14 working days). 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 (minimum of RM100).
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. Otherwise, if you just selling products online and want to accept payment from FPX/any local bank and also credit card, you can subscribe their basic plan for only RM300 per year . 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
SenangPay : Clean Dashboard & Easy To Understand
Their dashboard or admin portal is very clean and easy to understand. We can easily track how much sales do we get, how much payment will they bank in to us, pending refund and many more. Senangpay can be easily integrates with any E-Commerce CMS such as WordPress Woocommerce and Opencart. Another thing that we like about SenangPay is we can integrate the payment gateway with WordPress Gravity Forms since they have plugins for that. Sometimes, our clients are not selling products, and what they want to do is to accept payment (local bank or credit card) within the forms. Some of them also need recurring payment (applicable for credit card) function where we can set the function in Senangpay Dashboard. That’s the reason why we always choose SenangPay
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