Stripe Payment Rates, Fees, Integration for Malaysian Business

Good News for everyone, Stripe Payment now offering reduced transaction rates for Malaysian users.

During the early establishment of Stripe in Malaysia, they offered a competitive rate of 3.4% + RM2 per each successful transaction. Compared to Paypal which is currently 3.9% + RM2. And recently, during the Beta survey of FPX payment method within Stripe, users has been given few choices of what rates they’re looking for if they’re given the option to choose from. We think, from the previous survey, now Stripe had come out with  their latest better offering of 3% + RM1 to make them far better than Paypal and at the same competitive enough to compete with other local Payment Gateway such as MolPay, iPay88, Senangpay, Billplz and many more!

Stripe Rates in Details

1. Credit & Debit Cards – Integrated per-transaction pricing means no setup fees or monthly fees. The price is the same for all cards. Fees exclude SST.
   • 3% + RM1 per successful card charge. If currency conversion is required, an additional 2% fee will apply.

2. 3D Secure authentication – 3D Secure is an authentication method used to verify a customer’s identity before an online card purchase.  Included for RM0.10 per 3D Secure attempt for accounts with custom pricing.

3. Local Payment Method (FPX) – Support dozens of popular local internet banking with a single integration. Fees exclude SST.
   • 3% + RM1 per successful transaction. See How to Apply Stripe FPX & Requirements.
4. Other than the above, Stripe also has built-in support for American Express (AMEX) card payment, Apple Pay and Google Pay payment method with the correct setup and integration.

Useful FAQ on Stripe Malaysia

• Is Stripe really Free?
  • Similar to Paypal, opening a Stripe Account is totally free.
• How long do payouts take?
  • Once you’re set up, payouts arrive in your bank account on a 5-day rolling basis. Or you can opt to receive payouts weekly or monthly. Read more
• How do refunds work?
  • You can issue either partial or full refunds. There are no fees to refund a charge, but the fees from the original charge are not returned. Read more
• How much do disputes cost?
  • Disputed payments (also known as chargebacks) incur a RM90.00 fee. If the customer’s bank resolves the dispute in your favor, the fee is fully refunded. Read more
• Is there any fee to use Apple Pay or Google Pay?
  • There are no additional fees for using Stripe mobile SDKs or to accept payments using consumer wallets like Apple Pay or Google Pay. Read more
• How to register for Stripe Account?
  • Simply register your details on Stripe Official website.
• How to integrate Stripe Payment on my website?
  • Stripe integrates seamlessly with popular e-commerce platform such as Shopify, Woocommerce and many more. See Integration Guides for more info.

We hope that the above information are use full enough to get you started with Stripe. Give it a shot!