Malaysia Payment Gateway Market is Expected to Register a Steady CAGR during the Forecast Period

Increase in e-commerce transactions are likely to propel the Malaysia payment gateway market in the forecast period, 2024-2028.

According to TechSci Research report “Malaysia Payment Gateway Market - By Region, Competition, Forecast and Opportunities, 2028”, an effective payment gateway has become a worldwide concern, and it is quickly becoming a priority for the Malaysia economy as well. In the age of digitalization, Malaysia's payment gateway business is growing rapidly. The country is well-positioned to become the fastest growing hub for digital economies specializing in fintech, e-commerce, and Islamic finance fueled by technologies like artificial intelligence, machine learning, and digital transformation. Many enterprises are collaborating and adopting payment gateways as a cost-effective solution. The rising digitalization, faster internet speed, and the growth in e-commerce industry is enabling easy online transactions that has spurred the need for effective payment gateway solutions in Malaysia. In addition, the country's digital economy and government incentives, presents attractive investment opportunities that are expected to dramatically increase demand for payment gateways in Malaysia. Many foreign enterprises are also entering the Malaysia market via M&As and joint ventures. The benefit of geographical location, increasing adoption of digital payments solutions and the development of new payment technologies are attracting many investments in Malaysia. Moreover, the market is anticipated to be driven by increase in smartphone users with young and tech-savvy population which enables businesses to adapt digital payment applications along with strong government commitment to digital transformation. This will expedite the growth of payment gateway in Malaysia during the forecast period.

 

Browse over XX Market Data Figures spread through XX Pages and an in-depth TOC on the "Malaysia Payment Gateway Market.”

 

Malaysia payment gateway market is divided based on type, enterprise size, vertical, and region. Based on type, the market is segmented into hosted, bank integrated, and self-hosted. Based on enterprise size, the market is segmented into large enterprise, and small & medium enterprise (SME). Based on payment method, the market is bifurcated into credit card, debit card, e-wallet, and others. Based on vertical, the market is further divided into retail, travel & hospitality, healthcare, education, government, utilities, and others. Based on region, the market is segmented into West and East Malaysia.

 

The “hosted” segment generated the largest revenue share of the Malaysia payment gateway market and is anticipated to dominate the market segment in the forecast years. Hosted gateways are easy to set-up, utilize, and contributes a wide range of features and benefits such as secure payment processing, fraud prevention, and PCI compliance and reporting. In addition, the cost of setting up and using a hosted payment gateway is low compared to other gateways which have attracted various small-scale industries, start-ups, and individuals to adopt as a reliable solution. The method is more popular among the merchants for the security and integrity it provides through the payment process and decreases the fraudulent activities. This way, the merchants can focus on the services rather than dealing with the payment process. Moreover, non-hosted method is anticipated to register its growth with the fastest growing CAGR due to concerns from certain small-scale merchants that prefer hold of complete checkout processes and avoid any kind of redirection of the consumers with a reason for maintaining their brand value and to provide personalized experience to their consumers.

Key market players in the Malaysia payment gateway market include: 

·         Ipay88 (m) Sdn Bhd

·         Razer Merchant Services Sdn Bhd

·         PayPal Pte Ltd.

·         GHL ePayments Sdn Bhd (eGHL)

·         BILLPLZ SDN. BHD.

·         Stripe Payments Malaysia Sdn. Bhd.

·         Malayan Banking Berhad

·         Simplepay Gateway Sdn. Bhd.

Download Free Sample Report

Customers can also request 10% free customization in this report.

 

“The Malaysia government has welcomed huge FDI under the automatic route. The strategic geographical presence and strong supply chain has displayed strong investor confidence from global leaders, such as Google Cloud, Amazon web services, NTT Communications Corporation, and many more to invest in Malaysia. Largest percentage of the Malaysian economy is concentrated on West Malaysia as most of the manufacturing activities and services industries have been concentrated in the region Johor Bahru, Selangor, Penang, and Kuala Lumpur holding the large number of businesses. Kuala Lumpur has the establishment of maximum payment gateways in the West Malaysia region due to high internet penetration rate. The introduction of 5G networks, digital platforms and cloud services are rapidly strengthening the region's digital economy and increasing demand for high-bandwidth networking with scalable IT infrastructure are enabling the adoption for payment gateways solution in the West Malaysia region. In addition, the huge volume of internet traffic and the presence of several cloud services providers are further attributing to the market growth. Moreover, with the increasing collaboration among financial institution with the supportive government policies, the industry is expected to continue to grow in the years to come in Malaysia” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

“Malaysia Payment Gateway Market by Type (Hosted, Bank Integrated, and Self-hosted), By Enterprise Size (Large Enterprise, and Small & Medium Enterprise (SME)), By Payment Method (Credit Card, Debit Card, E-Wallet, and Others), By Vertical (Retail, Travel & Hospitality, Healthcare, Education, Government, Utilities, and Others), By Region, Competition, Forecast & Opportunities, 2028” has evaluated the future growth potential of Malaysia payment gateway market and provides statistics & information on market size, structure, and future market growth. The report's goal is to give current market knowledge and assist decision makers in making informed investment decisions. Furthermore, the study identifies and analyses emerging trends, as well as key drivers, challenges, and opportunities in the Malaysia payment gateway market.

Contact

Mr. Ken Mathews

708 Third Avenue,

Manhattan, NY,

New York  10017

Tel: +1-646-360-1656

Email: [email protected]

Website: www.techsciresearch.com