Payment Gateways Comparison
In this article:
Introduction of payment gateway.
Key characteristics of payment gateway.
Comparison between payment gateways.
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 |
 | 7 - 14 working days | Cards: 2.3% per processing, International Card: 3% + RM 0.50 for ticket size less than RM40.00); Non-Card (FPX): 2.5% or RM 0.60 (whichever is higher) | Weekly Transfer to Bank Account | N/A | N/A |
 | 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 |
 | Internet Bank Transfer: 7 - 14 working days; Credit Card: 1 - 2 months | SME Plan Cards: 3%, Online banking & e-Wallet: 2 - 4% or minimum RM0.60 (whichever is higher); SOHO Plan 4% per transaction | Weekly Sunday (Cutoff day) + within 5 working days | Min RM10 | 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 | SME Plan Online Banking: 99sen, Malaysian Credit Card: 1.25 - 1.99%, Malaysian Debit Card: 1%; Starter Plan Online Banking: RM 1.50, Malaysian Credit Card: 1.50% - 2.50% Malaysian Debit Card: 1.2% | Next day (T+1) | 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:
Razer Merchant Services: Exclusively for EasyStore's users. Contact us at support@easystore.co to check your entitlement
Stripe: https://stripe.com/en-my/pricing
PayPal: https://www.paypal.com/my/webapps/mpp/merchant-fees
Braintree: https://www.braintreepayments.com/my/braintree-pricing
eGHL: https://e-ghl.com/inquiry/my/
WechatPay: https://pay.weixin.qq.com/index.php/public/wechatpay_en/faq
Alipay: https://boxku.com.my/blog/how-to-register-alipay.html
iPay88: Redeem iPay88 Online Banking Plan
Billplz: https://www.billplz.com/pricing
senangPay: https://senangpay.my/faq/#
Maybank2u: https://m2upay.maybank2u.com.my/assets/faq/index.html
Atome: https://help.atome.my/hc/en-my/articles/4405623290137-How-do-I-use-Atome-if-I-m-a-merchant-
Payex: https://www.payex.io/
HitPay: https://www.hitpayapp.com/
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: 28/02/2025
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