Articles on: Payment and Shipping

Payment Gateways Comparison


In this article:


  1. Introduction of payment gateway
  2. Key characteristics of payment gateway
  3. Comparison between payment gateways
  4. Summary of the comparison


1. Introduction of Payment Gateway


A payment gateway is a merchant service provided by an e-commerce application service provider that authorizes credit card or direct payments processing for e-businesses, online retailers, bricks and clicks, or traditional brick and mortar.


Payment gateway works as the middleman between the merchant and his/her customer, ensuring the transaction is carried out securely and promptly.


2. Key Characteristics of payment gateway


  • Approval Time: Time taken for the approval of the application.
  • Transaction Fee: Fee you pay every time to process each transaction.
  • Settlement Day: The time lag between receiving a customer payment and receiving the funds in your merchant bank account.
  • Settlement Amount: Minimum amount for the payment gateway service provider to credit the funds into your account.
  • Worldwide Payment: Supports foreign currencies.


3. Comparison between payment gateways


Payment Gateway

Approval Time

Transaction Fee

Settlement Day

Settlement Amount

Worldwide Payment

Internet Bank Transfer: 3 - 5 working days; Credit Card: 1 - 2 months

Exclusive rate as low as 1.5% only for EasyStore users. Payment methods include credit/ debit card, online banking, e-wallet. Contact us at support@easystore.co to check your entitlement

Weekly Transfer to Bank Account

Min RM 100

Yes

Immediate

3% + RM 1

7 days (Malaysia)

Min RM 5

Yes

Immediate

3.9% + RM 2

Instantly

N/A

Yes

Within one business day

3.4% + RM 2

Next day (T+1)

N/A

Yes

Within 7 - 15 days

Free for most transactions. The fees of 0.1% for overseas transactions such as in case of cross border commerce.

Next day (T+1)

800 USD or equivalent amount in other foreign currencies

Yes

Within 72 hours

Credit Card: 3% service charge; Online Bank Transfer: 1.5% service charge

Monday - Tuesday: Next day (T+1); Friday - Sunday: Next Monday; Public Holidays: Next business day

N/A

N/A

14 working days

Basic Plan: RM1.50 per online banking transaction/ not applicable to card transactions; Standard 30: RM1.00 per online banking transaction/ 2.5% or lower for card transactions/ 3.2% per PayPal transaction/ 1.5% or lower per e-wallet transactions; Standard 365: RM0.50 per online banking transaction/ 2.5% or lower for card transactions/ 3.2% per PayPal transaction/ 1.5% or lower per e-wallet transactions.

Next day (T+1) *next business day

N/A

N/A

14 working days

Credit Card & Debit Card: 2.5%; Internet Banking: 1.5% or a minimum charge of RM1 whichever is higher

Twice a week (Wednesday and Friday)

Min RM 100

N/A

7 - 14 working days

RM 0.50 per transaction

Next day (T+1)

N/A

N/A

N/A

N/A

Within 2 working days

N/A

N/A

Within 24 hours

Malaysian Credit Card: 2%, Malaysian Debit Card: 1.2%, Personal Online Banking: RM 1.20, E-wallets: From 1.30%. Xendit pricing page: https://www.xendit.co/en-my/pricing/

N/A

N/A

N/A

10 minutes to create account, 2-3 business days

Domestic cards - 1.2%+ RM 1 (Visa, mastercard, gpay, applepay, debit, credit) Duitnow QR - 1.2% Full list of payment methods - click on this link - https://www.hitpayapp.com/my/pricing

Triggered Next Day

Cards - T+3 or T+7 working days

RM 5


Sources:



Click here to know more about other payment gateways available in EasyStore.


4. Summary of the comparison


  • Fast approval time: Stripe, PayPal, Payex, HitPay
  • Low transaction fee: Billplz, Payex, Atome, Maybank2u, HitPay
  • Short settlement cycle: PayPal, Braintree, WechatPay, AliPay, Billplz, Maybank2u, Payex
  • Low minimum settlement amount: Stripe and iPay88, HitPay
  • Worldwide payment: Stripe, PayPal, Braintree, Razer Merchant Services, HitPay


Updated on: 13/02/2026

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