What are the transaction fees and charges associated with using payment gateway services in Malaysia, and how do they vary across different providers?
In the digital age, online transactions have become an integral part of our daily lives. Whether it's buying products, paying bills, or transferring funds, payment gateway services facilitate seamless and secure electronic transactions. For businesses in Malaysia, offering online payment options is essential to cater to the growing demand for e-commerce. However, understanding the transaction fees and charges associated with these services is crucial to make informed decisions about the right payment gateway provider for your business. In this article, we will delve into the transaction fees and charges of using payment gateway services in Malaysia, and how they vary across different providers. Common Transaction Fees and Charges: a. Setup Fee: Many payment gateway providers may charge a one-time setup fee to integrate their services with your website or e-commerce platform. This fee covers the initial configuration and onboarding process. b. Transaction Fee: A transaction fee i...