The payment gateway is an essential part of any e-commerce business. It is a technology that enables online merchants to accept electronic payments securely from their customers.
When a customer makes a payment online, the payment gateway serves as an intermediary that processes the transaction by transferring payment data between the merchant, the customer, and the financial institution that issued the payment method being used (such as a credit card or digital wallet).
In addition to facilitating transactions, payment gateways also provide important security features, such as data encryption and fraud detection, to protect both the merchant and the customer from potential payment fraud.
Payment gateways are a crucial component of online payment systems, allowing businesses of all sizes to offer their customers a convenient and secure way to pay for goods and services.
Are you interested in knowing the process of creating a payment gateway account in Malaysia? With the rise of online payment and banking, there has been a significant change in the way consumers make purchases, and business owners manage their operations. Online payment has transformed the e-commerce and banking landscape, leading to the rapid growth of the e-commerce industry in Malaysia.
Our blog post aims to offer a detailed guide on how to register with the iPay88 payment gateway by following a set of simple steps below.
What is iPay88 payment gateway?
The big question before we continue is, what is iPay88? iPay88 is a leading payment gateway in Malaysia, with over 30,000 merchants using our services. We are headquartered in Kuala Lumpur but also have a regional presence in Singapore, Thailand, Indonesia, the Philippines, and Cambodia.
The company was established in 2006 and has since become a popular choice for e-commerce merchants in the region. In 2015, iPay88 became part of NTT DATA Group, which is a trusted global innovator of IT and business services headquartered in Tokyo, Japan.
iPay88 provides a range of payment options to customers, including credit and debit cards, online banking, e-wallets, and other alternative payment methods. We also offer fraud detection and prevention tools to protect merchants and customers from payment fraud.
One of the key advantages of iPay88 is that it supports multiple currencies, allowing businesses to reach a wider audience and cater to the needs of customers in different countries. We also provide integration with various e-commerce platforms and shopping cart systems, making it easy for merchants to set up their online payment systems.
Throughout the years, our brand has become a trusted partner for many businesses in Southeast Asia that require a secure and convenient way to accept online payments.
How to apply for payment gateway with iPay88?
Now we understand what is iPay88 payment gateway, we can continue to answer business questions on how to register an iPay88 account.
Let’s get started!
Step 1: Get in touch
If you are interested in becoming our merchant, the first step is to get in touch with our business consultants, who will advise you on the best payment solutions suited to your business needs. Our products are highly customizable, and a discussion with our consultants will help you choose the best options for you.
Step 2: Prepare the documents
- Complete the digital iPay88 application form sent by iPay88 business consultant.
- Attach the required documents:
1. Main documents
Applicable to;
- Sdn Bhd (Old Company Act 1965)
- Sdn Bhd (New Company Act 2016)
- Sole Proprietorship / Partnership
- Sabah-registered companies
- Sarawak-registered companies
- Limited Liability Partnership (LLP)
- Non-Profit Organization (NGO)
The main documents needed;
- Photocopy of All Director’s IC (All Malaysian Directors) and Passport (All Foreign Directors)
- Latest 3 months Company Bank Statement (Shows Bank logo, Account name (same as company name), and Account number)
- Website screenshots
- Web domain purchase confirmation
- Signed Fee Structure
- 3 exterior photos showing signage with the company name and 3 interior photos with a different angle
2. Other supporting documents
There are also other documents needed which will be separated by the types of applicant.
A. Sdn Bhd (Old Company Act 1965)
- Business Registration Forms (Full set) – All with Certified True Copied
- Form 9
- Form 24
- Form 44
- Form 49
- Memorandum of Association and Articles of Association (M&A) – Full set
- Form 13 / Section 28 / Section 36 / Section 46(3) / Section 51 / Section 58 / Section 78 / Constitution – IF ANY
B. Sdn Bhd (New Company Act 2016)
- Business Registration Forms (Full set) – ALL with Certified True Copied
- Section 14
- Section 15
- Section 17
- Section 58 & 236 (2)
- Section 28 / Section 46(3) / Section 51 / Section 58 / Section 78 / Constitution – IF ANY
C. Sole Proprietorship / Partnership
- Borang D / Borang E
- Maklumat Perniagaan
- Maklumat Pemilik Perniagaan Terkini
D. Sabah-registered companies
- Sabah Trading License / Borang B / Lesen Berniaga
E. Sarawak-registered companies
- Ordinan Nama-nama Peniagaan / Sijil Pendaftaran
- Borang I – Ordinan Perniagaan, Profesion Dan Perlesenan Perdagangan
- Pengesahan Pendaftaran Nama Perniagaan / Cabutan Pendaftaran Nama-Nama Perniagaan / Petikan Pendaftaran Nama-Nama Perniagaan
F. Limited Liability Partnership (LLP)
- LLP Info
- LLP Current Profile
G. Non-Profit Organization (NGO)
- Registration Certificate
- Organization Chart
- Latest Minutes of Meeting
All documents must be valid on the date of application and are not returnable.
Step 3: Application processing
- All applications will be processed and evaluated by the iPay88 Risk team.
- The results of the application should be released via e-mail. The times of application processing vary depending on approvals from banks, e-wallet providers, and other financial institutions depending on the payment methods applied.
- Upon approval, the Merchant Agreement will be released to the applicant.
Step 4: Integration and testing
Our technical team will contact the merchant to arrange integration and testing.
Step 5: Start selling online
Once the integration and testing are successful, you’re ready to start selling online! Make sure to follow iPay88’s Facebook and Instagram social media channels to find out about the latest promotions, partner promotions available to iPay88 merchants, and other relevant fintech information.
Why should you choose the iPay88 payment gateway?
iPay88 is a leading payment company that has been in business since 2016. Our state-of-the-art payment solutions have helped thousands of e-commerce businesses grow online and scale their business.
1. Experienced payment processor
We work with all types of businesses, including startups, SMEs, micro-SMEs, corporates, and multinational businesses. Our customers are our top priority. Therefore, each merchant has a dedicated account manager who will address any issues, support requests, and advise on business growth opportunities.
2. Customizable
Our solutions are highly customizable, and we can cater them to your business needs.
3. Wide payment options
iPay88 offers a variety of payment options, including credit and debit cards, online banking, e-wallets, and other alternative payment methods. This means that customers can choose the payment method that is most convenient for them, potentially leading to higher conversion rates and higher customer satisfaction.
4. Integration
On top of that, iPay88 also offers integration with various e-commerce platforms and shopping cart systems, making it easy for merchants to set up and manage their online payment systems. This is especially important for businesses that do not have extensive internal IT support and are looking for easy integration to accept online payments.
5. Trust
Finally, iPay88 is one of the pioneers in online payment acceptance in Malaysia and has built a strong reputation as a reliable and trustworthy service provider. This can give you and your customers confidence that your payments will be processed securely and efficiently.
Conclusion
Ultimately, the decision of which payment gateway to choose will depend on your specific business needs and requirements. However, iPay88 offers a range of features and benefits that may be attractive to businesses in Southeast Asia that require a secure and convenient way to accept online payments.
Contact our business consultants today to find out more!
Disclaimer: the application process may vary depending on your business nature and needs. We are always required to comply with the latest requirements by the BNM and our financial partners. The process described in this article is for general understanding only.
