This guide ranks ten top B2B payment gateways optimized for Malaysian e-commerce, focusing on local invoicing, multi-currency support, and low transaction fees.
1. iPay88 for B2B Malaysian e-commerce
iPay88, a leading local payment processor, supports over 20 online banking channels popular in Malaysia, including CIMB Clicks, Maybank2U, and FPX. For B2B merchants, it offers a fixed transaction fee of 2.5% to 3% per invoice, with no monthly subscription required. Its API integrates seamlessly with platforms like WooCommerce and Magento, enabling bulk payment reconciliation. iPay88 also provides a recurring billing feature essential for subscription-based B2B models, and its settlement is within T+1 business days, improving cash flow for Malaysian e-commerce vendors.
2. Razer Merchant Services for B2B payments
Razer Merchant Services (formerly MOLPay) handles over 30 payment methods, including local bank transfers, credit cards, and e-wallets like GrabPay and Touch ’n Go eWallet. B2B merchants benefit from its customized invoice generator and batch payment processing, which reduces administrative overhead. The gateway charges a transparent 2.5% to 3.5% plus RM1 per transaction, with no hidden setup fees. Its fraud detection engine, backed by machine learning, filters duplicate or suspicious orders, a critical feature for high-volume B2B transactions in Malaysia.
3. Billplz for B2B invoicing and collections
Billplz is designed specifically for Malaysian businesses to send payment links and invoices via email or SMS. B2B users appreciate its pay‑per‑use model: only RM0.50 per successful transaction, with no monthly fees for standard accounts. It supports FPX, credit cards, and e-wallets, and allows merchants to set custom payment due dates. Billplz’s API lets you automate invoice creation for recurring B2B orders, and its real‑time tracking updates both vendor and buyer on payment status, reducing follow‑up calls.
4. SenangPay for B2B small business payments
SenangPay offers a simple, no‑coding payment page builder ideal for small B2B e‑commerce operators in Malaysia. It charges a flat 2% + RM1 for domestic transactions, with no annual contract. The gateway includes a built‑in invoice system that can handle multiple line items and tax calculations (SST). For B2B repeat buyers, SenangPay supports saved card tokens, making checkout faster. Its dashboard provides a clear breakdown of payments by client, which simplifies monthly reconciliation for micro‑enterprises.
5. MOLPay for B2B multi‑currency transactions
Now operating under Razer Merchant Services, MOLPay’s core remains strong for B2B firms that deal in multiple currencies (SGD, USD, JPY). It offers a forex rate markup of only 1.5% on top of the interbank rate, lower than many competitors. B2B merchants can create separate merchant accounts for different business units, each with their own reporting dashboard. MOLPay also integrates with major ERP systems like Oracle NetSuite and SAP through its custom API, streamlining order‑to‑cash workflows for Malaysian exporters.
6. ToyyibPay for B2B local payment gateways
ToyyibPay is a Malaysia‑focused gateway that supports all major local banks and e‑wallets, including Boost and ShopeePay. Its B2B‑specific features include bulk payment file uploads (CSV) and automatic invoice numbering. Transaction fees are a low 1.5% to 2% for FPX and credit cards, with no monthly minimum. ToyyibPay also provides a “payment link” generator that B2B sellers can share via WhatsApp or email, ideal for quick quote‑to‑invoice conversions. The platform is Shariah‑compliant, appealing to Malay‑owned enterprises.
7. eGHL for B2B secure online payments
eGHL (Electronic Global Merchant Services) is a PCI DSS Level 1 certified gateway widely used by Malaysian B2B wholesalers. It supports 3D Secure 2.0 for credit cards and offers a tokenization service that stores customer payment data securely for repeat invoices. With a fee structure starting at 2.5% plus RM0.50 for local transactions, eGHL appeals to mid‑sized firms needing high security. Its real‑time API enables instant payment confirmation, reducing order fulfillment delays for B2B suppliers in industries like electronics and hardware.
8. Stripe for B2B global payment processing
Stripe is a global powerhouse that now fully supports Malaysian MYR settlement and local payment methods (FPX, GrabPay). For B2B e‑commerce, Stripe’s invoicing module allows you to send itemized bills with payment terms (Net 30/60) and automatically charge clients on due dates. Its fee is 2.9% + RM2 per transaction for card payments, with no monthly charges. Stripe’s dashboard provides advanced analytics on customer payment behavior, helping Malaysian B2B merchants forecast cash flow and manage credit risk more effectively.
9. PayPal for B2B cross‑border payments
PayPal remains a staple for Malaysian B2B sellers who export to over 200 countries. It supports multi‑currency accounts (hold USD, EUR, GBP) and offers a Buyer Protection scheme that builds trust with overseas clients. Transaction fees are 3.4% to 4.4% plus a fixed fee (RM0.50 to RM2.50) depending on currency. While slightly higher, PayPal’s instant transfer to local Malaysian bank accounts (via ItsFast) is convenient. B2B merchants can also create customizable invoices with line items and send them directly from the PayPal dashboard.
10. 2Checkout for B2B digital goods
2Checkout (now Verifone) is optimized for B2B merchants selling software, SaaS, or digital downloads to Malaysian clients. It supports recurring billing, subscription management, and flexible pricing in 30+ currencies. The platform handles global tax compliance (including SST for Malaysia) and offers a fraud protection team. Fees range from 3.5% to 6.5% + $0.35 per transaction, which is higher but includes international card processing. Its self‑service portal lets B2B customers generate their own invoices and receipts, reducing admin load.
Summary Table: Top 10 B2B Payment Gateways for Malaysian E‑commerce
| Gateway | Best For | Key B2B Feature | Fee Structure (Typical) |
|---|---|---|---|
| iPay88 | Local bank transfers | Recurring billing, T+1 settlement | 2.5%–3% per txn, no monthly fee |
| Razer Merchant Services | Multi‑method payments | Batch processing, fraud detection | 2.5%–3.5% + RM1/txn |
| Billplz | Invoice‑driven collections | Pay‑per‑use, SMS invoicing | RM0.50/txn (FPX) |
| SenangPay | Small business simplicity | Saved cards, SST tax support | 2% + RM1/txn |
| MOLPay | Multi‑currency exporters | ERP integrations, separate accounts | 1.5% forex markup |
| ToyyibPay | Local low‑cost transactions | Bulk CSV upload, payment links | 1.5%–2% (FPX/credit) |
| eGHL | High‑security B2B | 3DS 2.0, tokenization | 2.5% + RM0.50/txn |
| Stripe | Global B2B with invoicing | Net terms, subscription billing | 2.9% + RM2/txn (cards) |
| PayPal | Cross‑border trust | Multi‑currency, Buyer Protection | 3.4%–4.4% + fixed fee |
| 2Checkout | Digital goods SaaS | Global tax compliance, fraud team | 3.5%–6.5% + $0.35/txn |
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