FPX, QR code, E-Wallet direct, iBanking and an offline channel. Collection from 1.20%, payouts from 0.80%, T+0 or T+1 settlement in USDT and MYR. One partner, first-hand channels, no reseller stack.
Five programs run side by side. Pick the one that matches your ticket size, your settlement preference, and how much manual handling you are willing to absorb.
| Program | Method | Collection | Payout | Limits | Currency | Settlement |
|---|---|---|---|---|---|---|
| Native 1 | FPX | 1.50% | 1.00% | RM50 – RM30,000 | MYR | T+1 |
| Native 1 | E-Wallet Direct | 2.10% | 1.00% | RM10 – RM30,000 | MYR | T+1 |
| Native 1 | QR Code | 1.70% | 1.00% | RM10 – RM30,000 | MYR | T+1 |
| Native 2 | FPX | 1.60% | 1.20% | RM2 – RM10,000 | MYR | T+1 USDT / MYR |
| Native 2 | QR Code | 1.60% | 1.20% | RM2 – RM10,000 | MYR | T+1 USDT / MYR |
| Native 2 | E-Wallet Direct | 1.90% | 1.20% | RM2 – RM10,000 | MYR | T+1 USDT / MYR |
| Online 1 | iBanking | 1.50% | 0.80% | Collection RM1 – RM49,999 · Payout RM30 – RM49,999 | MYR | T+0 |
| Online 1 | QR Code | 1.90% | 0.80% | Collection RM1 – RM49,999 · Payout RM30 – RM49,999 | MYR | T+0 |
| Online 2 | iBanking | 1.20% | 0.80% | Collection RM20 – RM10,000 · Payout RM50 – RM5,000 | MYR | T+0 |
| Online 2 | QR Code | 1.20% | 0.80% | Collection RM20 – RM10,000 · Payout RM50 – RM5,000 | MYR | T+0 |
| Offline | iBanking | 1.70% | 1.10% | Deposit RM50 – RM50,000 · Withdrawal RM100 – RM100,000 | MYR | Telegram group confirmation · 1–3 min |
If you are pricing a Malaysian cashier around card acceptance, you have already lost most of the funnel.
Malaysians pay online through their bank. FPX, the national online banking payment rail that connects the major Malaysian banks to merchant sites, operated by PayNet, is the default for anything larger than pocket money. DuitNow, the national instant transfer and QR standard, has pushed the same habit onto a phone screen.
Between them, a deposit is a login to Maybank2u or CIMB Clicks, a confirmation, and a return redirect. Cards exist, but debit dominates credit, and the card that does exist is issued by a bank whose acquirer will not knowingly touch gaming, brokerage, or funded-trader merchant category codes.
E-wallets are the second layer. Touch 'n Go eWallet, GrabPay, Boost and ShopeePay carry enormous everyday volume, and DuitNow QR made them interoperable at the point of sale.
For an operator, that matters in two ways: wallet top-up balances are smaller than bank balances, so wallet deposits skew to low tickets, and wallet direct connections cost more than FPX because the wallet operator prices its own risk. That is exactly the shape of the rate card above: E-Wallet direct sits at 1.90% to 2.10% while FPX and QR sit between 1.20% and 1.70%.
The reason mainstream international PSPs serve this market badly for high-risk verticals is structural, not technical. Stripe, Adyen and PayPal all have Malaysian coverage, and all three publish prohibited-business lists that exclude online gambling, most CFD and forex flows, and prop-firm challenge fees.
International card acquirers take the same position, because Bank Negara Malaysia regulates payment instruments tightly and the domestic banks behind FPX have no appetite for regulatory argument. The result is that the entire high-risk segment runs on domestically sourced channels rather than on a global gateway. The useful question is never "who has an API" but "whose bank accounts are actually open this week."
Currency. The ringgit is the other constraint. MYR is not freely traded offshore; Bank Negara has long restricted offshore ringgit trading, which means an operator holding a large MYR balance cannot simply wire it out or hedge it on an offshore desk.
Treasury. Anyone planning a serious Malaysian book should plan the exit path before the entry path, which in practice means settling out of MYR quickly. Operators running iGaming payment channels across Southeast Asia usually treat Malaysia as a market you collect in and settle out of within a day or two, not a market you bank in.
Seasonality. Expect, finally, a market with real seasonality and real churn. Bank-level risk teams rotate collection accounts, holiday periods compress banking hours, and low-ticket wallet traffic behaves nothing like the RM5,000 deposits a broker sees. Build the cashier so it can fail over between FPX, QR and wallet.
Everything below comes from the current Malaysia rate card — no rounding, no averaging.
On the Native 1 program, normal orders credit in 1 to 3 minutes and abnormal orders are handled manually, with a backend reconciliation system provided. The Native 2 program runs at a 99% success rate across FPX, QR and E-Wallet direct. Online 1 additionally supports TELCO and TNG PIN.
Payouts cost 0.80% on Online 1 and Online 2, 1.00% on Native 1, 1.10% on the offline channel, and 1.20% on Native 2, where a fee of RM10 per transaction also applies. Native 2 payouts run RM100 – RM50,000; Online 1 pays RM30 – RM49,999 and Online 2 RM50 – RM5,000.
Online 1 and Online 2 settle T+0 — the same day you process. Native 1 and Native 2 settle T+1. Settlement currencies are USDT and MYR, so you can take the ringgit out of the equation on the day it is collected.
Operators expanding across the region usually add these next. Each page carries its own published rate card.
Vertical, ticket size, monthly volume — that is enough for us to tell you which program fits and which channels are open right now.
Message ZenexPay on TelegramDirect line to the team that runs the channels — not a sales layer.