What is a ‘Payment Gateway’?

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Payment gateway is a service for you to receive money online. That’s it. If you want to to receive money online, you’ve got to register and use a payment gateway so that people can buy/ give you money online. Uploading a document proving you’ve paid doesn’t apply here because a lot of fraud can still happens there. In Malaysia you can choose from Billplz, Toyyibpay, Payhalal, Ipay88, etc. There is plenty of them around. There are 3 things that you should check out before using them. Lets go one by one.

The first is you need to check how are they going to charge you. prepaid? a cut from the percentage? An example of the ‘taking a cut from’ is let say you sell shoes for RM100.00. when a customer pay, the payment gateway operator will take RM1.00 (let say they charge you RM1 per transaction). So what you will get is RM99.00. The prepaid version is, you need to topup your account with the payment gateway operator first before you can start selling. You will get the full price (RM100) if the item got purchased, but you need to remember that you have spent RM1 early on.

The second is integration. If you are using WordPress as your primary blogging/CMS/e-commerce tool, you need to know whether they have a plugin to enable their service. If you are not using WordPress, find it out by contacting their support team or on their website. They could give you an API (Application Programming Interface) or some kind of guidelines for you to enable it on your platform, whether its coded from scratch or you are using a third party platform such as Weebly, Shopify, etc.

The third and final thing is you should consider is registration. Some payment gateway providers need a registration free. some don’t. some need for you to upload a picture of the company’s bank statement, a proof of some sort of certification, etc.

There are a lot of Malaysian Payment Gateways. We’ll simply list 9 of them here.

1. Billplz
2. Toyyibpay
3. Paypal
4. Razerpay
5. Stripe
6. Ipay88
7. Payhalal
8. Curlec
9. Senangpay

and there is a lot more…Read up more on Malaysian Payment Gateway Comparison soon. We will break it down its price for you to compare. You can compare their subscription fee (if any), charges per transaction, how they consume your money (prepaid vs a cut from every transaction), how are they different and much more

TLDR; Payment gateway meaning: to make sure people can pay/donate/transfer money online. Cash flow wise it is best to subscribe to payment gateway that deducts your money once a transaction is being made. For stability purposes, best bet is to use something that hasn’t had many hiccups so far and very quick in their response to any of your queries. If your main concern is price, you might have to do some calculation first. A cheap per transaction charges might forces you to pay a monthly or subscription fee.

So yeah…that’s it! Now you got yourself a payment gateway and you can start selling online!

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