Choosing the correct payment gateway is pivotal for any business operations. For SMEs with leaner finances and stricter budgetary flows, a payment machine that could handle various payment methods and integrate with their existing POS systems within an affordable price range is absolutely important.
iPay88 and Paydibs are key contenders in payment gateway Malaysia, each with distinct benefits for businesses. But like all things in life, selecting the right payment gateway really depends on your operational news and growth plans.
Let’s compare them.
Paydibs is a growing payment provider offering competitive and flexible solutions, especially appealing for businesses prioritising cost and faster fund access.
Paydibs provides a unified ecosystem for both online and physical retail, such as pop-up stores and even vending machines. Its focus on hybrid solutions and attractive pricing makes it a strong contender for businesses operating across multiple sales channels.
“Paydib’s Smart Payment Terminal provides real-time transaction tracking, fast processing speeds, and effortless integration into business operations.”
Paydibs offers flexible packages designed to cater to various business models, providing flexibility in how payments are accepted. Their terminal system is very well-loved and popular among merchants due to the seamless integration into their existing systems, no fuss, no changes!
Here is a summary of Paydibs’ package details:
Feature | Online Package | Terminal (Rent) | Terminal (Buy) | Mobile App Package |
Use Case | Pure E-commerce | Physical Retail (Rental) | Physical Retail (Purchase) | Mobile Payments |
Signup Fee | FREE** | FREE | FREE | FREE |
Yearly Connection Fee | N/A | N/A | RM120 | N/A |
All-in-One Smart Terminal | N/A | RM40/Month | RM480 (One-time) | N/A |
Yearly Maintenance Fee | RM300* | N/A | N/A | FREE |
Deposit (Refundable) | N/A | RM500 | N/A | N/A |
Online Banking | ✓ | X | X | X |
Credit / Debit Card | ✓ | ✓ | ✓ | X |
E-Wallet & QR Payment | ✓ | ✓ | ✓ | ✓ |
Buy Now Pay Later (BNPL) | ✓ | ✓ | ✓ | ✓ |
International Payment | ✓ | X | X | X |
* Yearly maintenance fee waived with a minimum sales volume of RM360,000 in the previous year.
** Signup fee is FREE for local merchants only. Signup fee for foreign merchants is USD 120.00.
iPay88 is a long-standing name in Malaysian payments and was acquired by global IT giant NTT DATA in 2015. NTT DATA Malaysia now oversees its operations, while still offering their strong regional branding and services to Southeast Asia.
iPay88 excels in online payment processing, known for extensive e-commerce platform integrations and robust multi-currency support, ideal for businesses with international customers.
“Leveraging NTT DATA’s global capabilities, iPay88 offers a well-tested solution for handling diverse online payment needs securely and efficiently.”
iPay88 has two plans, one for SMEs and another for enterprises. Since this blog solely focuses on SMEs and Malaysian business owners, we will focus on their SME pricing package.
Fee Type | Amount (RM) | Notes |
One-Time Setup Fee | 527.04 | |
Yearly Maintenance Fee | 540.00 | Includes 8% SST |
Bank Processing Fee | 900.00 | Waived |
Total Payable Amount (First Year) | 1,067.04 | Includes 8% SST (Setup + Yearly Maintenance) |
Payment Method | Rate |
Online Banking (FPX) | 2.7% or RM0.60 (whichever is higher) |
Local Credit Card (Visa & Mastercard) | 2.7% |
Local Debit Card (Visa & Mastercard) | 2.5% |
Credit/Debit Card (UnionPay & International) | 3.2% |
E-Wallet (Boost, TnGoPay, GrabPay, ShopeePay, MaybankQR) | 1.5% |
Disclaimer on Pricing Information:
The pricing details and package comparisons provided in this article are based on publicly available data and sources as of the time of writing. For the most accurate and current pricing and terms, please refer directly to the official websites of Paydibs and iPay88 or contact their customer service representatives.
The speed at which funds reach your bank account significantly impacts cash flow, particularly for businesses managing tight budgets.
For fast cash settlement, Paydibs wins in terms of speed.
What good is a payment terminal if they don’t offer a wide array of payment methods? Malaysia’s rapidly growing digital economy means that businesses must meet customer’s increasingly diverse preferences and expectations.
Paydibs Payment Options:
iPay88 Payment Options:
Both offer comprehensive payments, if you are a business focused on overseas clients or international business, iPay88 wins in this regard. But if you are focused solely on local or even regional businesses in SEA, then Paydibs is a superior choice.
Ease of integration and overall user experience are paramount for smooth operations.
Paydibs Integration
iPay88 Integration
Security and adherence to strict regulatory standards are non-negotiable, like many local payment gateways such as Billplz and Curlec, all payment providers are regulated by BNM and financial services act 2013.
Reliable support and consistent system performance are important for businesses relying on payment processing.
“Imagine your customer has reached the end of the buyer’s journey and at the shopping cart, only to realise their credit card transaction isn’t going through, that loses you a customer.”
Paydibs Support:
iPay88 Support:
The choice between iPay88 and Paydibs hinges on your specific needs, current stage, and future goals.
For SMEs looking for the best payment gateway Malaysia in the market, you should carefully consider what your business needs before making a choice. Your chosen payment partner should not just process transactions but also actively support your business’s resilience and expansion.
If you want to scale, grow and get that market share with your brand in the news, choose a partner that supports your dream and ambitions.
iPay88 is a long-established online payment leader with strong international support, while Paydibs offers more competitive initial costs, faster settlements, and integrated online and physical payment hardware solutions tailored through specific packages.
Paydibs generally provides faster payouts, with funds often settling within T+1 or T+2 working days. iPay88 has a bi-weekly settlement cycle, typically disbursing funds around 5 working days after the bi-weekly cut-off.
Yes, iPay88, leveraging NTT DATA's global capabilities, fully facilitates international transactions and multi-currency processing.
Yes, Paydibs is highly suitable for both online and brick-and-mortar businesses, offering integrated payment solutions through its Online, Terminal (Rent/Buy), and Mobile App packages.
Paydibs frequently offers free signup fees for local merchants across its packages. In contrast, the iPay88 SME plan includes a one-time setup fee of RM527.04 and a yearly maintenance fee of RM540.00.
Both iPay88 and Paydibs ensure transaction security by being regulated by Bank Negara Malaysia (BNM) and maintaining PCI DSS compliance. They employ advanced fraud prevention systems, encryption, and real-time monitoring to protect sensitive data.