Online Payment Options & Comparisons

What payment options can you choose from, if you want to do an online business?

I presently accept the following payment options online:-

1. For payments within Malaysia - bank transfers through CIMB Clicks, Maybank2U and PBBe

2. For payments within Brunei - bank transfer through Maybank2U

3. For payments within Singapore - bank trasfers through DBS/POSB

4. For international payments - through Paypal using Visa/Master

For payments within Malaysia, Singapore and Brunei using bank transfers, there are no trasaction fees and your only cost is the yearly RM8 bank fee.

For payment comparisons, here is a quick summary for you.

1. Paypal - i highly recommend this option - click here to get a free account now
Advantage:~
No setup fee
Easy Sign Up
No monthly fee
Low transation charge (3.2%)
Disadvantage:~
Credit Card required for signing up

2. WorldPay
Advantage:
Support 140+ Currencies
High consumer confidence
Disadvantage:
SG$1000 for sign up fee
SG$600 chargeable annually
Transaction charge (4.5%)

3. 2CheckOut
Advantage:
No monthly fee
Low setup fee (USD 49)
Disadvantage:~
High transaction charge (5.5%)

4. ENETS (for Singapore local market)
Advantage:~
Recognized in Singapore Local Market
Support NETS (Singapore Online Bank Transfer)
Disadvantage:~
Only applicable in Singapore
Setup Fee SG$200
Annual Fee SG$400