This blog was updated on 15 May 2025, for more information connect with our team: https://www.easystore.co/contact 

9 Key Factors to Consider Before Choosing an Online Payment Gateway

If you’re running an online business and want to accept debit or credit card payments, you’ve likely come across the term payment gateway. But what exactly does it do?

An online payment gateway is a service that processes customer payments by verifying payment details, securing the funds, and transferring the money to your bank account. It plays a crucial role in ensuring smooth, secure transactions between your customers and your business.

Using a payment gateway enhances your ecommerce operations by offering round-the-clock purchase access, improving the shopping experience—especially for impulse buyers—and increasing transaction security. 

It also reduces the risk of credit card fraud, helping to build long-term trust between you and your customers.

With countless payment gateway providers on the market, how do you choose the right one for your business? Here are 9 key factors to consider before making your decision.

1. Pricing and MDR Fees

Every payment gateway charges a Merchant Discount Rate (MDR)—a small percentage of the total transaction amount. MDR fees typically range from 1% to 3%. Selecting a provider with a lower MDR helps reduce operational costs.

Also, look out for additional setup charges or monthly fees. High setup costs combined with steep MDR fees can significantly eat into your margins.

2. Variety of Payment Methods

While most payment gateways support credit and debit card transactions, some offer additional options like eWallets, FPX (Financial Process Exchange), and even QR payments. 

The more payment methods available, the more convenient it is for customers—especially those who prefer non-card options.

3. Buy Now, Pay Later (BNPL) Options

Offering Buy Now, Pay Later can help increase conversions, particularly for higher-ticket items. This feature lets customers split their payments into interest-free monthly installments, making it easier for them to commit to larger purchases.

4. Security and Compliance

Security should be a top priority. Choose a payment gateway that offers:

• PCI DSS compliance

• 3D Secure verification

• Bank Negara Malaysia registration

These features reduce the risk of fraudulent transactions and protect both your business and your customers.

5. Transparency: No Hidden Fees

Some providers include hidden costs such as monthly/annual fees, cancellation fees, or chargeback fees. Make sure to request a full breakdown of costs and read the fine print before signing any agreement.

6. Settlement Period

A shorter settlement period means quicker access to your funds. Evaluate how long it takes the provider to process and settle payments. 

Also, check how they handle refunds and chargebacks, as delays can impact your cash flow.

7. Integration Flexibility

As your business grows, you may switch ecommerce platforms or expand to new sales channels. Choose a gateway that integrates easily with widely used ecommerce platforms, ensuring smooth setup and future migration if needed.

8. Responsive Customer Support

Good customer service is essential. A provider that responds quickly and effectively to transaction issues can prevent revenue loss and protect your brand’s reputation. Poor support, on the other hand, may result in unresolved issues and unhappy customers.

9. Post-Sales Support

A great payment gateway provider isn’t just a service—it’s a business growth partner. The best providers offer post-sales support and actively help merchants grow their online revenue.

A Great Choice: OZOPAY

Looking for a reliable Malaysian payment gateway? Ozopay offers fast, secure transactions and the ability to generate payment links in seconds. 

Provided by Merchantrade Asia, one of Malaysia’s largest fintech companies with over 20 years of experience, Ozopay delivers flexible, no-frills online payment processing—plus excellent support.

Exclusively for EasyStore merchants:

• FREE setup fee

• First-year annual fee waived

Register your details here to unlock this offer!

Make Customers Love Buying From You

EasyStore empowers your brand to prioritize customers and enhance their experience, creating a unified customer experience (UCX) that makes customers love buying from you.

Over 50,000 brands have grown their businesses by embracing unified customer experiences (UCX) strategy through EasyStore across multiple sales channels - online store, retail outlets, marketplaces, and social media, ensuring consistency in product and service offerings for a seamless shopping journey.