Fiuu Malaysia review: Pricing, features, pros & cons (2026)

Key Takeaways:

• Fiuu is Malaysia's largest payment gateway by transaction volume, with 110+ payment methods¹ and strong domestic coverage — but setup fees, weekly settlement, and undisclosed FX costs are worth knowing before you sign up.

• Fiuu charges 2.4% for card and FPX transactions, from 1.4% for e-wallets, and 1.2% for DuitNow QR².

• Airwallex offers 160+ payment methods, like-for-like settlement in 20+ currencies, and no setup or annual fees.

If you're searching for a Fiuu review, you're probably weighing up whether Malaysia's largest payment gateway is the right fit for your business.

Formerly known as Razer Merchant Services, Fiuu is one of the longest-running payment providers in the country. It processes over RM44 billion in transactions annually³ and serves more than 70,000 merchants across Southeast Asia.¹

But most information about Fiuu online comes from either Fiuu itself or from comparison tables with little detail. Independent reviews that dig into what Fiuu does well, where it falls short, and how much it actually costs are hard to find.

This review covers all of that. We'll walk through Fiuu's pricing, features, settlement terms, security and compliance — plus an honest list of pros and cons to help you decide if it's the right fit.

What is Fiuu?

Fiuu is a Malaysia-based payment gateway that has been operating since 2005.¹ It was rebranded to Razer Merchant Services after becoming part of Razer Inc. in 2018, before adopting the Fiuu name.

The platform supports over 110 payment methods¹ across eight markets in Asia: Malaysia, Singapore, Thailand, Indonesia, the Philippines, Vietnam, Taiwan, and Hong Kong. It serves more than 70,000 merchants across sectors including retail, F&B, logistics, and government services.⁴

In FY2024, Fiuu processed a total payment volume (TPV) of over US$9.8 billion¹ and handles more than 1.8 million transactions daily.⁴ In 2025, the company reported a 32% increase in payment volume, reaching US$8.3 billion by the end of Q3 alone.⁵

Fiuu holds direct acquiring licences with Visa and Mastercard in Malaysia, Singapore, and the Philippines.⁴ It is regulated under Malaysia's Financial Services Act 2013, and its services comply with PCI DSS Service Provider Level 1 and ISO 27001:2022 standards.¹

Fiuu pricing and fees

Fiuu's no longer publishes its pricing on its website, so you'll need to contact their sales team for a tailored quote.

The rates and packages below are based on figures listed on Fiuu partner platforms such as SiteGiant, which publishes Fiuu's Premium plan pricing for its merchants. These may differ from what Fiuu quotes you directly, so always confirm your rates before signing up.

Fiuu Lite plan

The Lite plan is Fiuu's entry-level package. It comes with a one-time setup fee of RM499 (+ 6% SST) and an annual fee of RM99, waived for the first year.⁶

The main limitation is payment method coverage. The Lite plan only supports FPX internet banking and buy now, pay later (BNPL) through Atome and GrabPay. Credit cards, debit cards, and e-wallets are not available on this plan.

FPX transaction fees are also higher on the Lite plan — 3.8% or RM0.60, whichever is higher.

Fiuu Premium plan

The Premium plan gives you access to Fiuu's full range of payment methods. Setup costs RM400 (+ 6% SST), with an annual fee of RM499 (+ 6% SST).⁶

Here's what you can expect to pay per transaction:

The information in this table has been reviewed to be accurate as of 15 April 2026. Rates may vary depending on your package and any active promotions. Contact Fiuu directly to confirm your exact pricing.

Other fees to know

Beyond transaction rates, there are a few additional costs to factor in:

• Shopify surcharge: Merchants using Shopify pay an extra 0.25% on top of all transaction fees.⁷

• Credit card channel activation: SiteGiant reports an additional one-time fee of RM954, charged by the processing bank, to activate credit card acceptance. Every resubmission due to a rejected application costs RM250.⁸

• Minimum settlement: RM100 per payout, with no withdrawal charge.⁵

• FX conversion: Fiuu does not publicly disclose its FX conversion margins or cross-border settlement terms. If you accept international payments, ask Fiuu directly for a full cost breakdown.

Fiuu features

Fiuu positions itself as an all-in-one payment platform for Southeast Asian merchants. Here's what it offers across payment methods, integrations, and business tools.

Payment methods

Fiuu supports over 110 payment methods across Southeast Asia.¹ In Malaysia, the key options include:

• Credit and debit cards: Visa, Mastercard⁶

• Internet banking: FPX, with access to major banks including Maybank, CIMB, Public Bank, and others⁶

• E-wallets: Touch 'n Go, GrabPay, Boost, ShopeePay, Maybank QRPay, MAE⁶

• QR payments: DuitNow QR⁶

• Buy now, pay later (BNPL): Atome, GrabPay PayLater (postpaid and instalment)⁶

• Cash over the counter: Fiuu Cash, available at over 2,000 7-Eleven outlets across Malaysia¹

• Cross-border wallets: Alipay, WeChat Pay⁶

• Mobile wallets: Apple Pay, Google Pay¹

• Other: Samsung Pay Online (first payment acquirer in Malaysia to support this)⁴

Fiuu Cash is a standout feature. It lets customers shop online and pay with cash at 7-Eleven, which is useful for businesses targeting customers who prefer or rely on cash transactions.

Integration options

Fiuu offers six integration methods to match different technical setups:⁷

• Hosted payment page — the fastest way to get started, with no coding needed. Customers are redirected to Fiuu's payment page to complete the transaction.

• Seamless checkout — an embedded checkout that keeps customers on your site throughout the payment flow. Fiuu claims this reduces cart abandonment by 46.3%.⁷

• API integration — for custom-built payment experiences with full control over the checkout flow.

• Mobile XDK — a cross-platform mobile payment kit for iOS and Android apps.¹

• Tokenisation — lets returning customers pay with saved payment details without re-entering card information.¹

• Shopping cart plugins — pre-built integrations for platforms including Shopify, WooCommerce, and Magento.⁷

If you use Shopify, note that an additional 0.25% processing charge applies on top of your standard transaction fees.⁷

Business tools

Beyond basic payment acceptance, Fiuu offers several tools for different business models:

• Virtual Terminal — a mobile app that turns your phone into a payment terminal, useful for accepting payments on the go or over the phone.¹

• Marketplace Payment — splits payments between multiple parties (e.g. platform, seller, and service provider), designed for marketplace businesses.¹

• Recurring Payment — automated billing for subscription-based businesses, supporting both card-based and DuitNow Auto Debit collection.¹

• Mass Payment — batch payout tools for businesses that need to disburse funds to multiple recipients at once.¹

• Payment Links — generate and share payment links without any technical integration.¹

• Installment Payment — lets customers split purchases into monthly payments through participating Malaysian banks. Terms and minimum transaction values vary.

Fiuu settlement and payouts

Settlement speed matters if cash flow is important to your business — and this is one area where Fiuu lags behind other providers.

Fiuu settles payments on a weekly cycle. Transactions made from Monday to Sunday are paid out the following Thursday.⁵ If that Thursday falls on a public holiday, settlement moves to the next business day.

Here's a summary of the key settlement terms:

The information in this table has been reviewed to be accurate as of 15 April 2026.

In practice, this means you could wait up to 10 days for a Monday transaction to reach your bank account — longer if a public holiday falls in between.

For comparison, some providers in Malaysia settle on a T+1 or T+2 basis for all payment methods, which gives you faster access to your revenue. If your business operates on tight margins or relies on quick cash turnover, the weekly cycle is worth factoring into your decision.

It's also worth noting that Fiuu settles only in MYR.⁶ If you accept payments in other currencies, Fiuu will convert them before settling — but the conversion margins are not publicly disclosed. This makes it difficult to calculate your true cost of cross-border transactions.

Fiuu security and compliance

Fiuu meets the key security and regulatory standards you'd expect from a major payment gateway in Malaysia.

Compliance

Fiuu is regulated under Malaysia's Financial Services Act 2013.¹ It holds PCI DSS Service Provider Level 1 certification — the highest level of card data security — and is ISO 27001:2022 certified for information security management.¹ It also holds a Shariah Compliance Certification for the provision of payment gateway services.¹

Fraud prevention

Fiuu runs an in-house AI-driven transaction monitoring system that analyses over one million transactions daily.³ The company says it has achieved one of the lowest dispute transaction ratios in the online payment industry, though it does not publish exact figures.¹

These are solid credentials for a domestic payment gateway. If security certifications and local regulatory compliance are high on your checklist, Fiuu ticks the main boxes.

Pros and cons of Fiuu

Here's a balanced summary of what works well and what to watch out for.

Pros:

• Proven scale and reliability. US$9.8 billion in TPV for FY2024,¹ with a claimed zero-downtime track record and infrastructure that handled over 100,000 simultaneous sessions during Singles Day 2022.¹

• Cash payment acceptance. Fiuu Cash lets your customers pay for online purchases with cash at over 2,000 7-Eleven outlets across Malaysia¹ — a feature most other gateways don't offer.

• Strong local partnerships. Direct acquiring licences with Visa and Mastercard in Malaysia, Singapore, and the Philippines,³ plus partnerships with PayNet and Samsung Pay.⁴

• Multiple integration options. Six ways to integrate,⁷ from no-code hosted payment pages to full API customisation, plus plugins for Shopify, WooCommerce, and Magento.

Cons:

• Setup and annual fees. Both the Lite (RM499 + SST setup) and Premium (RM400 + SST setup, RM499 + SST annual) plans charge upfront fees.⁵ Most modern payment gateways in Malaysia charge neither.

• Weekly settlement. Transactions settle once a week, on Thursdays.⁵ This is significantly slower than providers that offer T+1 or T+2 settlement, and can create cash flow pressure for smaller businesses.

• FX costs not disclosed. Fiuu does not publicly share its FX conversion margins or cross-border settlement terms, making it hard to calculate your true costs on international transactions.

• Lite plan is very limited. No credit card, debit card, or e-wallet support on the entry-level plan⁵ — which rules out the payment methods most Malaysian shoppers use online.

• Shopify surcharge. Merchants on Shopify pay an additional 0.25% on top of all transaction fees.⁷

• Credit card activation fee. Some partner platforms report a one-time RM954 bank processing fee to activate credit card acceptance, with an additional RM250 charge for each resubmission if your application is rejected.⁶

Why Malaysian businesses choose Airwallex over Fiuu

Fiuu is a solid payment gateway if your business only accepts domestic payments in ringgit. But the reality is that most Malaysian businesses today handle some form of cross-border transaction.

You might be paying suppliers in China, accepting orders from customers in Singapore, or managing revenue in multiple currencies. For these businesses, Fiuu's limitations start to show.

Fiuu settles only in MYR,⁶ doesn't publicly disclose its FX conversion margins, and doesn't offer multi-currency accounts. That means every cross-border transaction involves a forced currency conversion at an unknown cost, and you have no way to hold, manage, or pay out funds in the original currency.

Airwallex takes a different approach. Here's what you get:

• 160+ local payment methods across 180+ countries — so you can accept payments from customers wherever they are, using the methods they prefer.

• Like-for-like settlement in 20+ currencies — collect in USD, SGD, or any supported currency and settle in that same currency. No forced conversions, no hidden FX markups.

• No setup fees, no annual fees — you only pay per transaction, starting from 1.4% + RM0.50 for local payment methods and 1.9% + RM0.50 for domestic cards.

• Multi-currency Global Accounts — hold, convert, and pay out funds in 20+ currencies from one platform. Useful if you're paying overseas suppliers or managing international payroll.

• Corporate Cards — issue multi-currency cards to your team for business spending, with built-in expense tracking.

• Plugins for Shopify, WooCommerce, and Magento — get up and running quickly, without the 0.25% Shopify surcharge that Fiuu charges.

Beyond payments, Airwallex combines FX management, transfers, and spend management in a single platform. Instead of stitching together separate tools for payment acceptance, currency conversion, and international payouts, you get everything in one place.

Frequently asked questions (FAQs)

How much does Fiuu charge per transaction?

On the Premium plan, Fiuu charges 2.4% for Visa and Mastercard transactions, 2.4% or RM0.60 (whichever is higher) for FPX, 1.4% for most e-wallets, and 1.2% for DuitNow QR.⁶ Fiuu no longer publishes pricing on its website, so contact their sales team to confirm your exact rates.

How long does Fiuu take to settle payments?

Fiuu settles on a weekly cycle. Transactions from Monday to Sunday are paid out the following Thursday.⁵ This means you could wait up to 10 days to receive funds from a Monday transaction, especially if public holidays fall in between.

Can Fiuu process international payments?

Fiuu supports cross-border wallets like Alipay and WeChat Pay,⁶ and lists multiple processing currencies including SGD, PHP, IDR, and USD.⁵ However, it does not publicly disclose its FX conversion margins, and all settlements are made in MYR.⁶ If cross-border payments are a core part of your business, a platform like Airwallex may be a better fit — it offers like-for-like settlement in 20+ currencies so you can avoid forced conversions.

What happened to Razer Merchant Services?

Razer Merchant Services rebranded to Fiuu. The platform originally launched as MOLPay in 2005 and became part of Razer Inc. in 2018.¹ The company now operates under the Fiuu name across all its markets in Southeast Asia.

What are some alternatives to Fiuu in Malaysia?

Other payment gateways available in Malaysia include Adaptis (formerly iPay88 and eGHL), Stripe, HitPay, SenangPay, and PayPal. Airwallex is another option — it supports 160+ local payment methods, settles in 20+ currencies, and charges no setup or annual fees. You can see a detailed comparison in our payment gateway guide for Malaysia.

Sources:

1. https://fiuu.com/about-us/

2. https://fiuu.com/newsroom/detail/fiuu-revolutionising-digital-payments-in-malaysia-and-beyond

3. https://fiuu.com/blog/detail/fiuu-achieves-two-national-records-in-malaysia-cementing-role-as-key-digital-payment-provider-for-asean

4. https://fiuu.com/blog/detail/fiuu-reports-32-rise-in-payment-volume-to-us83-billion-by-q3-2025

5.  https://accounting.my/payment/paydibs-vs-fiuu/

6.  https://sitegiant.my/fiuu/

7.  https://fiuu.com/faq/

This publication does not constitute legal, tax, or professional advice from Airwallex nor substitute seeking such advice, and makes no express or implied representations / warranties / guarantees regarding content accuracy, completeness, or currency. If you would like to request an update, feel free to contact us at [email protected]. Airwallex (Malaysia) Sdn Bhd is licensed in Malaysia as a MSB Class B (remittance business only) licensee and is regulated by Bank Negara Malaysia (licence number 00318).