How To Accept Online Payments in Malaysia (2026 Full Guide)

Key takeaways:

• Online payments such as FPX, cards, e‑wallets and BNPL are now a must‑have for Malaysian businesses.

• You can start simple and scale over time. Your options range from payment links and hosted checkouts to plugins and full API integrations.

• Airwallex helps you accept and manage online payments globally, with local methods like FPX and digital wallets, multi‑currency accounts, and direct integrations to your accounting tools, so you can lower costs and simplify reconciliation as you grow.

This guide shows Malaysian businesses how to start accepting online payments in 2026, whether you sell through social media, a simple website, or a full eCommerce store.

We’ll walk through options like payment links, hosted checkouts, plugins, and custom API integrations, and explain which payment methods work best for different customer types, including what fees and settlement times to expect.

We also share how Airwallex helps you offer local payment methods, get paid in multiple currencies, and keep your payment operations simple as you scale.

Why online payments matter in Malaysia

Malaysia’s payment landscape has shifted quickly toward digital. Customers now expect to pay online using cards, bank transfers, digital wallets, and many will abandon a purchase if their preferred option isn’t available.

For businesses, this means online payments are no longer a “nice to have.” Whether you run a small retail operation or an eCommerce brand, accepting online payments is now a basic requirement in Malaysia.

What is an online payment in Malaysia?

An online payment is an electronic transfer of funds from a customer to your business through the internet. This means when a customer buys something from your website or app, money moves from their account to yours without any physical cash or cheques involved.

Here's the basic flow. Your customer selects a payment method at checkout – a credit card, online banking, or a digital wallet. A payment gateway then securely processes their payment information and checks with their bank that funds are available. Once approved, the money transfers to your business account through a process called settlement.

In the context of online payments, you'll need to understand three key terms:

1. Payment gateway

This is the technology that securely captures your customer’s payment details and sends them to the relevant banks for approval. In Malaysia, gateways typically support local methods like FPX and DuitNow alongside cards and digital wallets.

2. Settlement

Settlement refers to when the money‌ reaches your business bank account after a customer pays. Depending on the payment method, this can happen on the same day or take a few business days.

3. Acquirer

The acquirer is the financial institution that processes card payments on your behalf and deposits the funds into your account. For Malaysian businesses, this is usually a local bank or a licensed payment provider that connects you to Visa, Mastercard, and other card networks.

How to accept online payments

Getting started with online payments doesn't have to be complicated. The right approach depends on your business setup, technical skills, and how much control you want over checkout.

Here are four ways to start accepting payments, from the simplest to the most customisable.

Option 1: Accept payments using payment links (no website needed)

Level of difficulty: Beginner-friendly, no technical knowledge required

Payment links let you create a secure checkout page and share it directly with customers via WhatsApp, email, Instagram, or Facebook Messenger.

Your customer clicks the link, enters their payment details, and completes the transaction on a hosted payment page. You receive a notification once payment is successful.

This approach works well for social sellers, freelancers, and service-based businesses that don’t have a website yet. Setup takes just a few minutes: generate a link from your payment dashboard, set the amount, add a short description, and send it to your customer.

Option 2: Add a hosted checkout for web and mobile

Level of difficulty: Moderate, requires basic website editing skills

A hosted checkout redirects your customers to a secure payment page when they're ready to pay. You place a payment button on your website, and when your customers click on this, they’re redirected to a mobile-optimised checkout page.

The provider handles security and compliance in the background. Customers choose their preferred payment method, complete payment, and are redirected back to your website with a confirmation.

This option suits businesses that want a professional checkout experience without building everything from scratch.

Option 3: Use plugins for Shopify, WooCommerce or Magento

Level of difficulty: Moderate, requires access to an eCommerce platform

If you’re already on Shopify, WooCommerce, or Magento, pre-built plugins are usually the fastest way to start accepting payments.

You install the plugin, connect your payment account, choose which payment methods to offer, and you’re live. The plugin takes care of showing payment options at checkout, processing transactions, and updating order statuses automatically.

Most setups take under half an hour and don’t require custom development.

Option 4: Build custom checkout with API and mobile SDKs

Level of difficulty: Advanced, requires developer support

For businesses that need full control over the payment experience, APIs and mobile SDKs allow you to embed payments directly into your website or app.

Your developers handle the integration, giving you control over design, user flow, and how payments appear to customers. This works best for larger teams or products where checkout is tightly integrated into the overall user experience.

It’s the most flexible option, but also the most resource-intensive.

Which online payment methods work best in Malaysia?

Malaysia offers a wide range of online payment methods, and each serves a different type of customer.

Here’s a quick overview of the most common options, followed by a deeper look at when each one makes sense for your business:

1. FPX

FPX is Malaysia’s national online banking payment system, operated by the national payments network, PayNet¹. It lets customers pay directly from their bank accounts at checkout, without using cards or digital wallets.

Because FPX moves money straight from your customer’s bank account to yours, it avoids card networks and intermediaries. That’s why transaction fees are typically much lower than card payments.

At checkout, customers simply choose their bank, log in, and authorise the payment. Funds transfer directly, which makes FPX especially popular for larger purchases where customers prefer not to use credit cards.

For Malaysian businesses with tight margins or higher-value transactions, FPX is often the most cost-effective way to get paid online.

2. Credit and debit cards

Credit and debit cards remain essential for businesses that sell internationally or offer subscription services. Visa, Mastercard, and MyDebit (Malaysia’s domestic debit card scheme) give you access to customers both in Malaysia and abroad.

Card payments cost more than FPX, but they offer key advantages. You can set up recurring billing, save card details for repeat customers, and benefit from chargeback protection. Modern payment gateways also include security features like 3D Secure authentication, which helps prevent fraud while keeping legitimate transactions flowing smoothly.

Accepting cards is particularly important if your business serves international customers, runs subscription plans, or needs to support recurring payments. Without them, you risk losing these audiences.

3. Digital wallets

Digital wallets like Touch ‘n Go eWallet, GrabPay, Boost, and ShopeePay are particularly popular with younger, mobile-first consumers who prefer paying with their phones rather than cards or online banking. According to Ipsos, more than 40% of Malaysians now use digital wallets for everyday transactions².

Each digital wallet has its own user base and settlement terms. Touch ‘n Go leads in market share, while GrabPay benefits from integration with Grab’s ride-hailing and food delivery services.

Offering multiple digital wallet options helps capture more customers. With Airwallex, you can enable and manage a wide range of local wallets from a single payments dashboard, without the need to set up separate integrations for each wallet.

4. Buy Now, Pay Later (BNPL)

BNPL services like Atome, Grab PayLater, and Shopee PayLater let customers split purchases into smaller, interest-free instalments. This makes higher-ticket items more affordable and can increase average order values for your business.

BNPL typically works best for categories such as fashion, electronics, and home goods, where customers appreciate flexible payment options. The service also handles credit risk and collections, so you receive the full payment upfront while customers pay over time.

Here’s the downside: BNPL providers typically charge merchants a higher processing fee than traditional cards. On average, fees range from 2% to 8% of the transaction value³.

However, the trade-off is improved conversion rates, larger basket sizes, and access to younger, tech-savvy shoppers who prefer flexible payments.

Reduce extra conversion fees with same-currency payments

Picture this: You’re shopping for a new pair of sneakers online. Website A shows the price in Malaysian ringgit (MYR), while Website B lists the same pair in US dollars (USD). Which one would you feel more comfortable buying from? It’s a no-brainer: you’d choose the store that displays prices in your own currency.

This is where multi-currency pricing comes in. By showing prices in your customer’s preferred currency, you remove uncertainty and reduce abandoned carts.

Like-for-like settlement takes this a step further. This means that the currency your customer pays in is the same currency you receive in your account.

For example, if a US customer pays in USD, you can receive the funds directly in USD without any forced conversions. You can then choose to convert to ringgit when the exchange rate is favourable, or hold the USD to cover your ad spend, subscriptions, or other US-based expenses.

Airwallex makes multi-currency pricing and like-for-like settlement simple. With a Global Account, you can display prices in your customer’s preferred currency, receive payments in the same currency, and hold funds in 20+ currencies. This gives you flexibility to convert when rates are favourable or use the funds directly for overseas expenses, helping you reduce conversion costs and improve your cash flow.

What fees and settlement times to expect in Malaysia

Different payment methods come with varying fee structures and settlement timelines that directly impact your cash flow.

Card processing fees and scheme costs

When a customer pays with a card, the total cost of the transaction includes three components:

1. Interchange fee: charged by the card-issuing bank, usually a small percentage of the transaction.

2. Scheme fee: charged by the card network (Visa, Mastercard) for using their system.

3. Processing fee: charged by your payment gateway for handling the transaction.

Below, you’ll find an estimate of the total fees you might pay by card type:

The information in this table has been reviewed to be accurate as of 11 February 2026. Ranges are estimates based on official published fee components, including interchange ceilings and scheme fees; actual merchant costs may vary by provider and transaction type.

Regardless of what type of card your customers uses, settlement typically occurs two to three business days after the transaction⁵. If a customer pays on Monday, you'll usually see funds in your account by Wednesday or Thursday.

FPX fees and settlement timelines

FPX transactions are typically more cost-effective than card payments because they bypass card networks and intermediaries. Merchant fees are usually charged as a flat amount per transaction. For example, Bank Islam charges between RM0.50 to RM3 per transaction⁶.

Settlement happens within one to two business days (T+1 or T+2).

Digital wallet fees and settlement timelines

Digital wallet fees vary by provider and plan, and each wallet has its own settlement schedule. Some digital wallets settle funds daily, while others may batch settlements weekly.

How Airwallex helps Malaysian businesses accept online payments

Airwallex brings your main online payment needs into a single platform, so you don’t have to juggle multiple providers as you grow. Open a Global Account to:

• Offer 160+ local payment methods through one checkout integration instead of maintaining separate contracts.

• Use multi-currency pricing to show prices in your customer’s currency and collect payments in 130+ currencies

• Use like-for-like settlement to receive and hold funds in 20+ currencies, reducing forced conversions and FX costs.

• Save up to 80% on FX costs when you do want to convert your funds.

Frequently asked questions (FAQs)

Do I need Malaysian business registration (SSM) to accept online payments in Malaysia?

Yes, most payment providers require SSM registration to open a merchant account. This requirement exists because payment providers need to verify your business identity and comply with Bank Negara Malaysia regulations. If you're operating as a sole proprietor, you'll need to register with SSM before applying for payment gateway services.

Can I accept online payments in Malaysia without building a website first?

Yes, payment links and QR codes let you accept online payments without a website. You generate a payment link through your payment provider's dashboard, share it via WhatsApp, email, or social media, and customers complete payment on a secure hosted page. This works perfectly for service businesses, social sellers, and anyone who conducts business through messaging apps or social media platforms.

What's the difference between FPX and card payments for Malaysian businesses?

FPX connects directly to Malaysian banks for online banking transfers, whilst card payments go through card networks like Visa and Mastercard. FPX costs less, because it bypasses card network fees. But FPX only works for customers with Malaysian bank accounts, whilst cards work internationally.

Do Malaysian payment regulations require 3D Secure authentication for all card transactions?

Malaysian regulations don't mandate 3D Secure (3DS) for all transactions, but many payment providers require it for fraud protection. 3DS adds an extra authentication step where customers verify their identity through their bank's app or SMS code. Some low-risk transactions may qualify for exemptions, letting customers complete purchases without additional authentication steps.

How long does it take to receive funds from FPX, cards, digital wallets and buy now, pay later in Malaysia?

FPX typically settles in one to two business days (T+1 to T+2). Cards take two to three business days (T+2 to T+3). Digital wallet settlement varies by provider, ranging from one to three business days. Buy now, pay later providers usually pay merchants immediately or within one business day, even though customers pay in instalments over time.

How do chargebacks work in Malaysia and what can I do to prevent them?

Chargebacks occur when customers dispute card transactions through their bank, typically claiming they didn't authorise the payment or didn't receive what they ordered. Banks investigate and may reverse the transaction, deducting funds from your account. You can contest chargebacks by providing proof of delivery, customer communication, and transaction records.

Can I show prices in foreign currencies but receive ringgit in my Malaysian business account?

Yes, you can display prices in foreign currencies while receiving payments in your Malaysian ringgit account. With Airwallex, your customers see prices in their preferred currency, while you can choose to convert the payment to MYR automatically or hold it in the original currency for like-for-like settlement. This means you can manage currency risk, pay overseas suppliers, or convert funds when the exchange rate is most favorable.

How do I reconcile online payment settlements with my accounting software in Malaysia?

You can reconcile online payment settlements with your accounting software by using platforms that integrate directly with your system. For example, Airwallex lets you automatically sync transaction data – including fees and settlement amounts – with Xero, QuickBooks, or NetSuite. This ensures your records match the payments received in your Malaysian business account and reduces manual data entry.

Sources:

1. https://knowledgebase.paynet.my/hc/en-us/articles/49684231152281-What-is-FPX-Financial-Process-Exchange

2. https://www.ipsos.com/en-my/press-release-non-cash-economy-role-e-wallets-0

3. https://en.wikipedia.org/wiki/Buy_now%2C_pay_later

4. https://www.bankofchina.com.my/en-my/service/information/promotions-and-notices/Interchange_Fee_Adjustment.html

5. https://cardbizpay.my/guide/settlement

6. https://www.bankislam.com/fees-and-charges-fpx

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).