Payment Gateways 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.

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