Payex
Payex is a Malaysian online payment gateway (Bank Negara Malaysia licensed, PCI DSS compliant) offering card, FPX, e-wallet, BNPL, and subscription payments via API and plugins for SMEs, marketplaces, and cross-border ASEAN merchants; it was fully acquired by Xendit in October 2025 and now operates as Xendit Malaysia.
- Company typePrivate
- Founded2020
- HeadquartersSelangor, Malaysia
- Headcount1–10
- GTM typeB2B
- OfferingSoftware
What Payex does
Payex PLT (LLP0003245-LGN), founded in 2020 and headquartered in Kuala Lumpur (operating from Block 1A, Plaza Sentral), was a Malaysian online payment gateway licensed by Bank Negara Malaysia under Merchant Acquiring Services for non-banks and PCI DSS compliant. Its core technology stack exposes a REST API plus native plugins for major e-commerce platforms (Shopify, WooCommerce, EasyStore, Ecwid, Magento 2, OpenCart), aggregating 50+ payment methods including credit/debit cards, FPX online banking, e-wallets (GrabPay, Touch 'n Go, ShopeePay, WeChat, Alipay, Alipay+), BNPL (Atome, Grab PayLater, Shopback PayLater, Riipay), and subscription auto-debit. Differentiated products included a 0% Credit Card Instalment Payment Plan via an ezBeli partnership across 9 banks (up to 60-month tenures, no terminal required), recurring subscription billing, payment links/QR codes, split payments and sub-accounts for marketplaces, Southeast Asia cross-border payments covering 130+ currencies, plus add-ons for eKYC, pre-authorisation holds, and delivery pickups across 8 logistics partners.
The business model is primarily transaction-fee based on a pay-as-you-earn basis (1.0%-2.8% on cards, RM0.99-RM2.50 on FPX, 1.0%-2.3% on e-wallets) with an optional RM88/month SME plan offering reduced take rates and free sub-account creation; there are no setup fees, annual fees, or minimum settlement thresholds, and settlement completes in 1-2 working days. Go-to-market is product-led and self-serve with onboarding in 1-3 working days, supported by marketplace app listings, an affiliate referral program, social media presence, and earned media coverage. In January 2023 Indonesian fintech Xendit invested in Payex to enter Malaysia and in October 2025 Xendit completed the full acquisition; Payex now operates as Xendit Malaysia, with payex.io redirecting to xendit.co/en-my.
Payex firmographics
Firmographics- Name
- Payex
- Legal name
- Payex PLT (LLP0003245-LGN)
- Website
- https://payex.io
- Company type
- Private
- Founded year
- 2020
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Payex is a Malaysian online payment gateway (Bank Negara Malaysia licensed, PCI DSS compliant) offering card, FPX, e-wallet, BNPL, and subscription payments via API and plugins for SMEs, marketplaces, and cross-border ASEAN merchants; it was fully acquired by Xendit in October 2025 and now operates as Xendit Malaysia.
- Ownership category
- akta.pro rank
Payex industry classification
Industry- Product category
- Payment Gateway
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Sales Financing (52222)
- akta.pro primary industry
- Marketplace / Platform Acquiring (PayFac & Sub-Merchant Management) (FSAMABAF)
- akta.pro secondary industries
- Marketplace & Platform Seller Payouts (FSAMAKAE), Embedded Payments (Pay-ins, Pay-outs, Wallets) (FSAGALAB), E-commerce & Digital Checkout Installment Financing (FSAKAFAC)
Keywords
Where Payex is headquartered
LocationHeadquarters
- HQ city
- Selangor
- HQ country
- Malaysia
- HQ region
- Asia
Offices1 record
Markets served
Payex business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales
Revenue model
- Transaction Fees: Pay-as-you-earn model where Payex charges transaction fees only when merchants make sales. Fees vary by payment method: 2.00% for local credit cards (Starter), 1.70% (SME); e-wallets 1.30% (Starter), 1.10% (SME); FPX RM1.20-RM2.50 per transaction
- Monthly Subscription (SME Plan): SME Plan charges RM88/month with reduced transaction fees, providing cost savings for established businesses with higher transaction volumes. Zero monthly fee for Starter Plan
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Zero monthly fee - transaction fees only |
| Subscription | Monthly | RM88/month with reduced transaction fees |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels4 records
Payex product offering
Product offeringCore offering
Payex is a Bank Negara Malaysia-licensed online payment gateway that enables merchants to accept credit/debit cards, FPX online banking, e-wallets (GrabPay, Touch 'n Go, ShopeePay, WeChat, Alipay), BNPL options, and subscription payments. The platform offers tools such as 0% credit card instalment plans, payment links, QR codes, marketplace split payments, pre-authorisation, and eKYC, integrated via REST API and native plugins for major e-commerce platforms. Following Xendit's October 2025 acquisition, Payex now operates as Xendit Malaysia with cross-border payment coverage across five ASEAN countries.
Product overview
Payex (now Xendit Malaysia) is a comprehensive online payment gateway platform providing an integrated suite of payment solutions for Malaysian businesses. The core offering centers on accepting multi-channel payments including credit/debit cards (Visa, Mastercard, UnionPay), FPX online banking, e-wallets (Touch 'n Go, GrabPay, ShopeePay), QR payments (DuitNow), and BNPL options (Atome, Riipay, Grab PayLater). Key products include the 0% Instalment Payment Plan (up to 60-month credit card installments via ezBeli), Subscription Payment (recurring direct/auto debit), Payment Link & QR Code (flexible payment collection), Ready Plugins (pre-built e-commerce integrations), Marketplace & Platform Payment (split payments, sub-accounts), Southeast Asia Payment (cross-border regional payments), plus add-on services including Delivery Pickups, Pre-Authorisation, and eKYC. Two pricing tiers are offered: Starter Plan (zero monthly fee, transaction-based) and SME Plan (RM88/month with reduced rates). Payex operates under Bank Negara Malaysia licensing and was acquired by Xendit in October 2025 to expand Southeast Asian payment coverage.
Differentiator
Problem solved
Functional benefit
Products and services
- 0% Instalment Payment Plan Credit card instalment payment plan offering 0% interest for up to 60 months from 9 partner banks (including Maybank, CIMB, Public Bank, RHB, Hong Leong Bank, UOB, Affin Bank, AmBank, Citibank) in partnership with ezBeli. No terminal required, enabling sales closure anywhere via payment links and QR codes. Built for Malaysian merchants selling higher-ticket items who want to offer interest-free instalment checkout.
- Subscription Payment Recurring payment solution allowing automatic deduction from customer bank accounts or cards on customizable timelines. Supports both direct debit (bank account) and auto debit (cards) with WooCommerce Subscription plugin integration. Designed for subscription-based businesses that need automated recurring billing with auto-retry on failed collections across daily, weekly, monthly, quarterly, and yearly cadences.
- Payment Link & QR Code Flexible payment collection tool enabling merchants to create reusable payment links and QR codes for one-time or flexible-amount transactions. Supports disabling specific payment methods (e.g., cards) for cost control. Targets remote sales scenarios such as social commerce via Facebook Live, Instagram sellers, and freelancers collecting payment from distant customers.
- Ready Plugins Pre-built integration plugins for major website builders and e-commerce platforms including WooCommerce, Shopify, EasyStore, Ecwid, Magento 2, and OpenCart 3, enabling quick payment gateway activation without custom development.
- Marketplace & Platform Payment Advanced payment features for platforms and marketplaces including split payments (automating payouts to multiple bank accounts), unlimited sub-accounts, and payment withholding capabilities. Suitable for commission payouts, multi-vendor onboarding, and SaaS platforms orchestrating payments on behalf of multiple parties.
- Southeast Asia Payment Cross-border payment solution enabling merchants to sell in Indonesia, Thailand, Vietnam, and the Philippines using their Malaysian companies and bank accounts, accepting payments in local currencies. Covers over 130+ currencies internationally and integrates with regional rails such as PromptPay/QR (Thailand), VietQR/Vietcombank (Vietnam), BPI/BDO/UnionBank (Philippines), and BCA/BRI/Mandiri (Indonesia).
- Delivery Pickups Automated parcel pickup and delivery service integrated with multiple courier partners (Borzo, DHL, EasyParcel, GDEX, J&T, Lalamove, NinjaVan, Pgeon). Supports automated pickup after payment, international delivery, and easy linking of existing delivery accounts.
- Pre-Authorisation Card authorization service that temporarily reserves funds from customer cards or bank accounts for future transactions. Designed for rental deposits, bookings, and car rentals, with convenient full or partial refund capabilities.
- eKYC Electronic Know Your Customer identity verification service supporting bank account identification matching, CTOS credit checks, and customizable eKYC flows. Catered for online moneylending, crowdfunding investor verification, and tech platforms requiring Securities Commission Malaysia compliance.
- Shopping Cart Built-in 1-page shopping cart feature allowing merchants to create products, configure shipping/pickup options, and share cart URLs with customers for checkout.
Quantifiable outcome
- Onboarding in 1-3 working days with free registration
- +2 more outcomes
Companies that use Payex
Customer profileNamed customers15 records
Segments3 records
Ideal customer profiles3 records
Payex technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration23 records
Feature8 records
Payex partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered core and minor.
- ezBelicorePartnership for 0% Credit Card Instalment Payment Plan (IPP). First and only in Malaysia, offering up to 60 months instalment from 9 partner banks without requiring a payment terminal.
- Delivery Partners (Borzo, DHL, EasyParcel, GDEX, J&T, Lalamove, Ninja Van, Pgeon)minorIntegration with logistics partners for delivery pickup services. Merchants can arrange automated parcel pickup after payment collection with fees starting from RM1 per pickup.
- FPX Partner BankscoreFPX online banking integration with major Malaysian banks including Affin Bank, Alliance Bank, AmBank, Bank Islam, CIMB, Hong Leong, HSBC, Maybank, OCBC, Public Bank, RHB, Standard Chartered, UOB, and more for retail and corporate banking.
- E-wallet Partners (GrabPay, Touch 'n Go eWallet, ShopeePay, WeChat, Alipay, Alipay+)coreIntegration with major e-wallets in Malaysia and cross-border payment solutions through Alipay+ for international merchants.
- BNPL Partners (Atome, Grab PayLater, Shopback PayLater, Riipay)coreBuy Now Pay Later integration allowing merchants to offer instalment payment options through these BNPL providers.
- Card Networks (Visa, Mastercard, UnionPay)coreCredit and debit card processing through major card networks including support for foreign cards.
- ASEAN Banks (Thailand, Vietnam, Philippines, Indonesia)coreCross-border payment integrations with banks across Southeast Asia including PromptPay/QR in Thailand, VietQR/Vietcombank in Vietnam, BPI/BDO/UnionBank in Philippines, and BCA/BRI/Mandiri in Indonesia for local payment method support.
Scale indicators5 records
Recent moves6 records
Expansion highlights5 records
Payex competitors and assessment
Company assessmentDirect peers
- Billplz: Malaysian payment gateway focused on bill payments, FPX, and online checkout for SMEs and individuals. Directly comparable to Payex in target market (Malaysian SMBs), payment methods (FPX, cards), and product scope (payment links, plugins).
- senangPay: Malaysian payment gateway offering online checkout, FPX, card, and e-wallet acceptance for SMEs. Closely overlaps Payex on payment methods, SMB target segment, and self-serve onboarding.
- iPay88: Established Malaysian payment gateway with broad payment-method coverage and BNM-licensed acquiring. Competes head-on with Payex for Malaysian merchants and supports similar card/FPX/e-wallet rails.
- Razer Merchant Services (Razer Fintech): Malaysian-headquartered payment gateway operating under BNM with regional expansion across SEA. Same regulatory profile and SMB-to-enterprise merchant target as Payex.
- ToyyibPay: Malaysian payment gateway offering FPX and online banking checkout for small merchants and Shariah-compliant use cases. Overlaps with Payex in FPX-first Malaysian SMB onboarding.
Broad incumbents
- Xendit: Parent company of Payex (now Xendit Malaysia) and a leading SEA payment gateway. Comparable as a regional full-stack payment platform with marketplace, payout, and cross-border capabilities that Payex now plugs into.
- Stripe: Global payment gateway serving developers and businesses with online card and alternative payment method processing. Comparable in API-first, PLG merchant onboarding and broad payment-method coverage, though not BNM-licensed in Malaysia.
- Adyen: Global enterprise payment platform offering unified online, in-person and marketplace processing. Overlaps Payex in card/wallet processing and marketplace split-payment functionality, but at far larger enterprise scale.
- 2C2P (now part of Ant Group): Southeast Asia-headquartered payment service provider with acquiring, alternative payments and cross-border capabilities. Comparable in cross-border SEA coverage and merchant-acquiring model.
Emerging players
- Chip In Asia: Emerging Malaysian/regional payment gateway offering online checkout and subscription billing for SMEs. Comparable to Payex in subscription and SMB payment-link use cases, though with smaller scale and a more selective payment-method footprint.
Market position
Strengths4 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
Payex social profiles
Digital presencePayex compliance and trust
Trust signalCompliance2 records
Payex financial estimates
Financial estimateRevenue estimate
Valuation estimate
Payex leadership team
Management profileNumber of profiles
Profiles1 record
Payex funding detail
Funding detailFunding overview
Funding rounds2 records
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Payex M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Payex
What does Payex do?
Payex is a Bank Negara Malaysia-licensed online payment gateway that enables merchants to accept credit/debit cards, FPX online banking, e-wallets (GrabPay, Touch 'n Go, ShopeePay, WeChat, Alipay), BNPL options, and subscription payments. The platform offers tools such as 0% credit card instalment plans, payment links, QR codes, marketplace split payments, pre-authorisation, and eKYC, integrated via REST API and native plugins for major e-commerce platforms. Following Xendit's October 2025 acquisition, Payex now operates as Xendit Malaysia with cross-border payment coverage across five ASEAN countries.
Is Payex a public or private company?
Payex is a private company. It is classified as corporate owned and is currently operating.
When was Payex founded?
Payex was founded in 2020. It employs 1 to 10 people.
Where is Payex based?
Payex is headquartered in Selangor, Malaysia, in the Asia region.
How does Payex make money?
Two revenue lines are on record. Transaction Fees are the primary driver. The others are monthly Subscription (SME Plan).
Who are Payex's main competitors?
Direct peers on record are Billplz, senangPay, iPay88, Razer Merchant Services (Razer Fintech) and ToyyibPay. Broad incumbents are Xendit, Stripe, Adyen and 2C2P (now part of Ant Group). Chip In Asia is listed as an emerging player.
Does Payex have an API?
Yes. Payex provides a public REST API enabling developers to integrate payment processing capabilities. The API supports PaymentIntents for creating payment forms (FPX, Cards, E-wallets, Subscription payments), Transactions for managing/searching transactions and settlements, Mandates for subscription payments via direct debit/auto debit, and Instalments API for credit card instalment payments. Authentication uses bearer tokens. A sandbox/demo testing environment is available upon request. Developer documentation is at api.payex.io/swagger/index.html.
What industry is Payex in?
Payex's product category is Payment Gateway. Its primary akta.pro industry code is FSAMABAF, Marketplace / Platform Acquiring (PayFac & Sub-Merchant Management), with a secondary code of FSAMAKAE, Marketplace & Platform Seller Payouts. Its NAICS code is 522320.