Betterpay

What Betterpay does

BetterPay, legally registered as Pay Direct Technology Sdn Bhd (1241495-V), is a Malaysian payment gateway services provider founded in 2017 and headquartered in Kuala Lumpur (Level 23A, Menara Allianz Sentral, Brickfields). The company operates a payment automation platform built around a Single Point API that consolidates over 150 payment channels — including FPX online banking, local and international cards, e-wallets (Touch 'n Go, GrabPay, ShopeePay, Boost), Buy Now Pay Later providers, DuitNow QR, instalment payment plans, over-the-counter payments, and cross-border methods — across seven Southeast Asian markets (Malaysia, Indonesia, Philippines, Thailand, Taiwan, Vietnam, Singapore). The product portfolio spans six consumer-facing products (E-Commerce Payment Gateway, Payment Link, E-Invoicing, Instalment Payment Plans, Recurring Payments, and the MyWire cross-border invoicing solution for Indonesian receivables) backed by an API layer (Standard Payment API, Direct Payment API, Create Bill, Recurring, Invoice, Refund, Tokenization, Card Pre-authorization, Transaction) and backend modules including Real-Time Settlement, Host-to-Host infrastructure, Virtual Terminal, and ERP Integration (e.g., SQL Accounting).

Revenue is generated primarily through merchant discount rates (MDR) on each transaction — flat RM1.00 for FPX B2C, 1.90-4.00% for cards, 1.05-7.60% for e-wallets, 5.00-6.50% for BNPL — supplemented by tiered subscription plans (Starter with free setup and T+1 settlement; Pro at RM500 with instant bank transfer settlement), one-time setup fees (RM300-RM500), annual renewals (RM90-RM250), hardware terminal sales (RM700), and cross-border service fees (MyWire RM1,800 setup plus RM250 annual maintenance plus withholding/VAT handling). The go-to-market combines an API-first, developer-friendly model — featuring a 14-day sandbox, comprehensive documentation, and pre-built plugins for Shopify, WooCommerce, Magento, OpenCart, Prestashop, Drupal, Ecwid, and EasyStore — with an enterprise field sales motion targeting larger merchants via Host-to-Host integrations. Distribution is reinforced by direct bank partnerships (Maybank, OCBC Bank including exclusive E-Mandate, Bank Islam), a merchant acquisition partnership with acquirer Fiuu, and bank-recommended onboarding across the Malaysian market. The customer base is diversified across industries, including notable logos such as Wise, Great Eastern Insurance, Taylor's University, Econsave, Village Grocer, Viu, Pet Lovers Centre, PPZ-MAIWP, JPJePlate (Road Transport Department Malaysia), Bee Cheng Hiang, LittleLives, and Twinklinc.

Since April 2021, BetterPay has operated as a controlled subsidiary of Australia-listed Fatfish Group Ltd (ASX:FFG), which acquired a 55% stake; Fatfish's fintech-investment structure provides capital and governance backing but BetterPay itself remains private. Annual transaction volume processed is reported at RM9.1-9.2 billion (approximately USD 2.1 billion) across 1,200-1,300+ active merchants, with a 2024 workforce of 11-50 employees. Compliance is anchored to PCI DSS for card processing and the Malaysian Personal Data Protection Act 2010 (PDPA) for data handling. In 2025 the company received the Asset Triple A Treasurise Awards 2025 "Best Payments and Collections Solution" jointly with OCBC Bank and was named Fiuu's Emerging Excellence Partner for the second consecutive year.

Name

Betterpay

Legal name

Pay Direct Technology Sdn Bhd

Website

https://betterpay.me

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

11–50 employees

Short description

BetterPay is a Malaysian payment gateway provider, operating as Pay Direct Technology Sdn Bhd, offering a Single Point API connecting merchants to over 150 payment channels across seven Southeast Asian countries and serving 1,200+ active merchants.

Ownership category

akta.pro rank

Product category

Payment Gateway Software

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)

akta.pro primary industry

Merchant Payment Gateways (API/Hosted Checkout) (FSAMACAA)

akta.pro secondary industries

Cross-border Payments & FX for E-commerce (CRAFALAF), Alternative Payment Methods (APMs) & Local Rails (ACH/SEPA/UPI, etc.) (CRAFALAG), Recurring Billing & AutoPay Management (FSAMAJAE), Smart Routing, Cascading & Payment Optimization (FSAMACAJ)

Keywords

• Payment gateway services
• Online payment processing
• Cross-border invoicing
• Recurring payment automation
• Southeast Asia payments

Headquarters

HQ city

Kuala Lumpur

HQ country

Malaysia

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Transaction Fees (MDR): Percentage-based fees charged on each transaction processed through the platform. Rates vary by payment channel: FPX B2C at RM1.00, Cards at 1.90-4.00%, e-wallets at 1.05-7.60%, BNPL at 5.00-6.50%. This is the primary revenue driver.
2. Subscription Plans: Tiered subscription model with Starter (free setup, T+1 settlement) and Pro (RM500) plans offering different settlement speeds and features. Additional fees for specific payment methods and add-ons.
3. Setup and Annual Fees: One-time setup fees ranging from RM300-RM500 for Pro plans, annual renewal fees for Singapore (RM250), virtual terminal (RM90 annual), and terminal hardware (RM700).
4. Cross-Border Services: MyWire cross-border invoicing with one-time setup (RM1,800) and annual maintenance (RM250), plus withholding tax (20%) and VAT handling for international transactions.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels6 records

Core offering

BetterPay operates a unified payment gateway-as-a-service platform that connects merchants to over 150 payment channels including FPX, credit/debit cards, e-wallets, BNPL, instalment plans, and cross-border solutions across seven Southeast Asian markets. Its Single Point API enables businesses to accept, reconcile, and settle payments in real time, with products spanning e-commerce checkout, recurring billing, e-invoicing, virtual terminals, and the flagship MyWire cross-border invoicing product offering same-day settlement with Indonesia.

Product overview

BetterPay is a Payment Automation Platform (Payment Gateway-as-a-Service) offered by Pay Direct Technology Sdn Bhd, providing a unified single-API platform that consolidates over 150 payment channels (FPX, cards, e-wallets, BNPL, QR codes, terminals, virtual accounts) across Southeast Asia (Malaysia, Indonesia, Philippines, Thailand, Vietnam, Singapore, Taiwan). The product portfolio includes six core consumer-facing products: E-Commerce Payment Gateway, Payment Link, E-Invoicing, Instalment Payment Plans (IPP), Recurring Payment, and MyWire (cross-border invoicing). These are complemented by backend modules (Real-Time Settlement, Virtual Terminal, Host-to-Host Infrastructure, ERP Integration) and a comprehensive API layer (Standard Payment API, Direct Payment API, Create Bill API, Recurring Payment API, Invoice API, Payment Link API, Tokenization API, Card Pre-authorization API, Refund APIs, Transaction APIs). The platform supports two tiers — BetterPay PRO and BetterPay LITE — and is accessible via a developer sandbox, e-commerce plugins (Shopify, WooCommerce, Magento, OpenCart, Prestashop, EasyStore, Drupal, Ecwid), and ERP/marketplace integrations.

Differentiator

Problem solved

Functional benefit

Brands

• MyWire: Flagship cross-border invoicing product enabling companies to invoice customers in Indonesia and receive payment on the same day

Products and services

• E-Commerce Payment Gateway

Quantifiable outcome

• Econsave reduced DuitNow QR integration time from 3 months to 2 weeks
• +4 more outcomes

Named customers14 records

Segments6 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration13 records

Feature9 records

Partnerships

Three partnerships are on record, tiered core.

• OCBC BankcoreTechnology or Integration · 1 January 2025Strategic partnership for host-to-host connectivity enabling fully automated recurring collections. OCBC exclusive E-Mandate direct debit service for recurring payments. Joint winner of The Asset Triple A Treasurise Awards 2025 for payment innovation.
• MaybankcoreTechnology or IntegrationMaybank integration for instant bank transfer settlement in Pro plan. Partnership enables FPX processing and real-time settlement services for Malaysian merchants.
• Bank IslamcoreTechnology or IntegrationBank Islam integration for Shariah-compliant payment processing, enabling Islamic banking customers to make FPX payments.

Scale indicators6 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• iPay88: iPay88 is a Malaysian-based payment gateway offering multi-channel online payment processing for merchants across Southeast Asia. It directly competes with BetterPay in the Malaysian e-commerce and enterprise payment gateway market with similar FPX, card, and e-wallet integrations.
• Fiuu (Razer Merchant Services): Fiuu, formerly Razer Merchant Services, is a Malaysian payment gateway and merchant acquisition platform. It is both a direct competitor to BetterPay and a strategic partner (Fiuu Emerging Excellence Partner awards), offering similar multi-channel payment processing with broader merchant network.
• eGHL (GHL Systems): eGHL is the payment gateway arm of GHL Systems, a Malaysian-listed fintech company providing payment processing, merchant acquisition, and transaction services. It competes directly with BetterPay in Malaysian e-commerce and enterprise payment gateway segments with similar FPX and card processing capabilities.
• Billplz: Billplz is a Malaysian payment gateway specializing in FPX, e-wallet, and card payment collection for businesses. It is a direct competitor in the Malaysian market with overlapping SMB and enterprise customer segments and similar developer-friendly API approach.
• Xendit: Xendit is a leading Indonesia-headquartered payment gateway serving Southeast Asia with multi-channel payment processing. It competes with BetterPay in cross-border SE Asia payment corridors and shares a similar API-first developer focus targeting e-commerce and enterprise merchants.
• 2C2P: 2C2P is a Thailand-based payment service provider operating across Southeast Asia with multi-channel payment processing. It directly competes with BetterPay in enterprise payment gateway services across the region with similar coverage of cards, alternative payments, and recurring billing.
• PayMongo: PayMongo is a Philippines-headquartered payment gateway providing online payment processing for Filipino businesses. It is a direct competitor in the Philippines market with similar card, e-wallet (GCash), and online banking integrations targeting digital merchants.
• HitPay: HitPay is a Singapore-based payment gateway and POS provider for SMEs across Southeast Asia. It competes with BetterPay in multi-channel payment processing with similar coverage of cards, e-wallets, and local payment methods across SE Asian markets.

Broad incumbents

• Stripe: Stripe is a global payment infrastructure company progressively expanding into Southeast Asia with its full-stack payment processing platform. While operating at much larger scale and serving global merchants, it increasingly competes with BetterPay for SE Asian enterprise and high-growth merchants seeking unified global payment solutions.
• Adyen: Adyen is a global payment platform serving enterprise merchants with unified commerce capabilities. It competes with BetterPay for large enterprise customers in Southeast Asia and offers broader geographic reach with single-integration philosophy similar to BetterPay's Single Point API approach.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Betterpay