Top PayPal business alternatives in Malaysia

PayPal supports international payments but does not offer a multi-currency account for holding collected funds. Take a look at five providers offering different ways to handle international payments

Key takeaways

• PayPal supports international payments and online checkout, but does not offer multi-currency accounts
• Alternatives include WorldFirst, Payoneer, Airwallex, and Wise
• WorldFirst offers a multi-currency account to receive, hold and convert USD and MYR, while also supporting CNH payments
• Payoneer provides international receiving accounts and cross-border payment services for businesses
• Airwallex combines multi-currency accounts, international payments, online payment acceptance and corporate cards
• Wise offers personal multi-currency accounts in Malaysia, while Instarem focuses on international business transfers and collections

PayPal is a digital payments provider that helps businesses in Malaysia receive payments from 200+ markets in 130+ currencies and send money to 95+ markets in 50+ currencies.^1,2 It allows users to accept payments via checkout, payment links and invoices.¹ There’s no multi-currency support and currency conversion fees start at 3.5%.³

This guide explores five PayPal alternatives in Malaysia, including WorldFirst, that offer multi-currency accounts and international business account features for handling cross-border payments.

→ Want to learn more about PayPal? Here’s the full PayPal Malaysia review

Best alternatives to PayPal in Malaysia

1. WorldFirst

WorldFirst offers the World Account, a multi-currency account for Malaysian businesses handling international collections, currency conversion and supplier payments. Eligible businesses can receive USD and MYR through local receiving account details and hold balances in both currencies. Businesses can also send payments in USD, MYR and CNH to overseas users.

The World Account supports payouts from 130+ marketplaces and payment gateways, including Amazon, Etsy, Stripe and Shopify. For businesses sourcing products from China, World Pay, the authorised international payment provider for 1688.com, enables direct payments to Chinese suppliers.

Businesses can convert between USD, MYR and CNH and use Firm Orders for eligible transactions to lock in an exchange rate for a future payment.

Key features of the World Account

• Receive international funds in USD and MYR through local receiving account details
• Hold USD and MYR balances
• Send USD, MYR and CNH internationally
• Convert between USD, MYR and CNH
• Receive payouts from 130+ marketplaces and payment gateways
• Use Firm Orders for eligible USD, MYR and CNH transactions
• Pay Chinese suppliers directly through World Pay when buying from 1688.com

2. Payoneer

Payoneer supports 70+ currencies, including USD, EUR, GBP, JPY, AUD, CAD, SGD and HKD, allowing businesses to receive international payments using local payment details.⁴ Funds can be held in 10 major currency balances, converted or withdrawn locally.⁵

Businesses can also pay across 190+ countries, including batch and mass payouts to up to 1,000 recipients.^4,6 It also connects with marketplaces and accounting platforms like Amazon, Xero and more, and offers Mastercard commercial cards for business spending.^7,8

Pricing: Payoneer charges an annual account fee of US$29.95 (on receiving less than US$6,000 or equivalent over 12 consecutive months), along with receiving fees from 1%, and a 0.50% currency conversion fee⁹

*Fees checked in September 2026

3. Airwallex

Airwallex offers Malaysian businesses a multi-currency account supporting 20+ currencies.¹⁰ Businesses can receive and hold funds, send payments in 60+ currencies to 200+ countries and accept online payments through international payment methods.¹⁰ Its payment tools include payment links and online payment acceptance through 160+ payment methods.¹¹ It also provides multi-currency corporate cards and business integrations.^12,13

Pricing: Zero monthly account fees.¹⁴ FX is 0.40% for major currencies and 1.00% for other supported currencies.^14,15 SWIFT transfers cost RM30-RM90 ^14,15

*Fees checked in September 2026

→ Read the full review of Airwallex in Malaysia

4. Wise

Wise provides Malaysian users with personal accounts for holding and converting 40+ currencies.¹⁶  Users can also receive money through global account details in 23 currencies and access a linked debit card for spending abroad.^16,17

The Wise card can be used for online and in-store payments in over 40 currencies across 150 countries and territories.¹⁷  Malaysian users can withdraw cash overseas, with Wise charging a fee on withdrawals after the first RM1,000.^17,18 The digital card supports Google Pay and Apple Pay. ¹⁷ But, getting a Wise debit card costs a one-time RM13.70 fee.¹⁸ Wise Business is currently not available in Malaysia, hence features like custom card controls, bulk transfers and more are not supported.

Pricing: Account opening and holding charges are zero; sending money and currency conversion fees vary by currency, starting from 0.25%.¹⁸ Receiving domestic payments and account details cost nothing, while USD, GBP and EUR Swift receipts cost US$6.11, £2.16 and €2.39 respectively¹⁸

*Fees checked in September 2026

→ Read the full Wise Malaysia review

5. Instarem Business

Instarem Business provides an international business account for businesses sending and receiving cross-border transfers.¹⁹ Businesses in Malaysia can send payments internationally to suppliers and employees across 160+ countries and pay up to 1,000 employee salaries in a single transaction, in local currencies.^19,20

For collections, businesses can receive USD, AUD, SGD, HKD, JPY, NZD, EUR and GBP through Instarem’s Global Collection Account (on an application and approval basis only).²¹ Businesses can also fund transfers using VISA or Mastercard bank cards issued by their bank.²²

Pricing: Zero sign-up, account setup and subscription fees.¹⁹ Transaction fees and exchange rates vary and are displayed before confirmation, starting from 0.30%^19,24

*Fees checked in September 2026

→ Here’s everything you need to know about best international money transfer providers

FAQs

1. What are the best alternatives to PayPal in Malaysia?

The suitable option depends on the business requirement. WorldFirst and Airwallex focus on multi-currency business accounts, while Payoneer and Instarem provide international receiving and payment services.^4,10,19 Wise offers personal international account features in Malaysia.¹⁶

2. Is PayPal available in Malaysia?

Yes. PayPal is available to Malaysian businesses, which can open Business accounts to accept online payments, send invoices and integrate PayPal with e-commerce platforms.¹

3. Which PayPal alternative supports receiving international payments in Malaysia?

WorldFirst, Payoneer, Airwallex and Instarem provide international receiving capabilities for eligible Malaysian businesses.^4,10,19 Their supported currencies, account details and fees differ.

4. Can Malaysian businesses receive marketplace payouts with PayPal?

Yes. PayPal supports business payments and payouts.²³ Businesses can also evaluate providers with marketplace collection features where supported.²³

Sources

1. https://www.paypal.com/my/business
2. https://www.paypal.com/my/business/make-payments
3. https://www.paypal.com/my/business/paypal-business-fees
4. https://www.payoneer.com
5. https://www.payoneer.com/checkout/
6. https://www.payoneer.com/send-payments/
7. https://www.payoneer.com/integrations
8. https://www.payoneer.com/commercial-card/
9. https://www.payoneer.com/pricing/
10. https://www.airwallex.com/my/business-account
11. https://www.airwallex.com/my/payments/payment-links
12. https://www.airwallex.com/my/spend-management/cards
13. https://www.airwallex.com/en-my/integrations
14. https://www.airwallex.com/en-my/pricing
15. https://www.airwallex.com/en-my/terms/fee-schedule
16. https://wise.com/my
17. https://wise.com/my/card/
18. https://wise.com/my/pricing/
19. https://www.instarem.com/en-my/business/
20. https://www.instarem.com/en-my/business/send/
21. https://www.instarem.com/en-my/business/receive/
22. https://www.instarem.com/help-business/faqs-sme/issue-corporate-card/
23. https://www.paypal.com/my/business/marketplace-payments
24. https://www.instarem.com/fees/

This article is intended for informational purposes only and does not constitute legal advice or professional advice. This article should not be regarded as constituting an offer or a solicitation to buy or sell any regulated or financial products or services. WorldFirst makes no representations or warranties regarding the accuracy, completeness, or applicability of the content, and readers are encouraged to consult with legal professionals or other professionals for advice tailored to their specific situation. WorldFirst does not guarantee the accuracy and completeness of this article and expressly disclaims any and all liability to any person in respect of the consequences of anything done or omitted to be done wholly or partly in reliance on this article.