What to Ask A Payment Gateway Provider Before Signing Up

Key Takeaways

• Check for hidden, statement and cross-border fees.
• Ask how quickly funds are settled and whether reserves apply.
• Make sure local options like DuitNow, FPX and e-wallets are supported.
• Understand the account terms and how easy it is to switch providers.
• Choose strong fraud protection without making checkout difficult.

Before signing up, it's important to ask the right questions. This guide covers the important things to look for like fees and payment convenience to security, customer support, and ease of use.

By asking the right questions before signing up, you can reduce unnecessary costs and select a payment solution that aligns with your long-term business growth plans.

 

8 Important Questions to Ask

1. Are there any hidden fees besides the advertised rate?

Many payment gateway providers promote attractive processing fees, but extra charges may apply. Ask for a breakdown of all costs, including setup fees, monthly fees, refund or chargeback fees, cross-border charges, and any other additional costs. 

Knowing the full pricing upfront helps you avoid unexpected expenses later.

 

2. How long does it take to receive my payments?

Ask how quickly you'll receive your money after a customer makes a payment, whether it's the next business day, within a few days, or weekly. 

Also, check if the provider can temporarily hold part of your funds, and under what circumstances. This helps you avoid unexpected cash flow issues, especially during busy sales seasons.

 

3. What happens if my sales suddenly increase?

A sudden and unusual increase in transactions may trigger a risk review by some payment providers. Ask whether this could delay payouts and how they handle unexpected sales growth, whether you will be notified in advance, and the policy to resolve such issues quickly.

 

4. What type of payment account will I be getting?

Not every online payment gateway works the same way. Some offer faster sign-ups but may be more likely to pause or review your account if they detect unusual activity. Others take longer to approve but can provide greater stability as your business grows. Ask which option they offer and which is best suited for your business.

 

5. How do you keep online payments secure?

Ask how the payment gateway protects your business and customers from fraud. It should offer strong security while keeping the checkout process quick and easy. 

Bank Negara Malaysia (BNM) requires payment gateway providers to implement robust data encryption and multi-factor fraud prevention controls. A strong payment gateway protects customer card data behind the scenes and helps customers pay safely while keeping the checkout process fast and frictionless to prevent shopping cart abandonment.

 

6. Can I switch to another payment gateway in the future?

Your business needs may change over time, so it's important to know how easy it is to switch providers. 

Ask whether you can move your customer payment information to another payment gateway if needed, and whether the setup process is simple if you want to add new features or integrate with other business systems.

 

7. Which payment methods do you support?

Make sure the payment gateway supports the payment methods your customers use most. In Malaysia, this includes DuitNow QR, FPX, popular e-wallets, and Buy Now, Pay Later (BNPL) options. Offering familiar payment choices can improve the checkout experience and help reduce abandoned carts.

 

8. Are there any additional fees to accept international payments?

If you sell to customers in other countries, ask about any extra fees for foreign currency payments and currency conversion. Hidden charges can increase the total cost for your customers, making them more likely to leave without completing their purchase.

 

How Should You Compare Payment Gateway Providers?

Once you have answers to the questions above, compare providers based on the overall value they offer rather than processing fees alone.

A slightly lower transaction rate may not be the best deal if settlement takes longer, important payment methods are missing, or additional charges apply to refunds and international transactions.

Look at the full picture, including pricing, settlement speed, payment coverage, security, integration options and customer support. The right provider should suit how your business operates today while still being flexible enough to support future growth.

 

What to Check Before Signing the Agreement?

Before committing, review the final quotation and agreement carefully to make sure the terms match what was discussed.

Pay particular attention to settlement schedules, additional fees, contract periods, termination terms and any conditions that may result in funds being temporarily withheld.

It is also worth confirming who you should contact if payment issues occur after your account goes live. Having a clear support channel can make a significant difference when transactions or settlements need urgent attention.

 

Summary

Taking the time to clarify these points before signing up can help you avoid unexpected costs and choose a payment solution that better fits how your business operates. Check on settlement times, supported payment methods, security, additional fees, account terms, integration flexibility and the level of support available. 

Revenue Monster is an option to consider. We support businesses with online, in-store and recurring payment solutions across a range of payment methods in Malaysia. If you would like to find out whether our payment solutions are suitable for your business, you can contact our sales team to learn more.