Explore the best payment gateways for food and beverage businesses, comparing features, fees, and benefits for seamless transactions in Singapore and Malaysia.
Looking for the right payment gateway for your F&B business? Here’s a quick breakdown of five popular options - Maynuu, Stripe, PayPal, HitPay, and GrabPay - to help you decide. Each offers unique features, fees, and benefits tailored for restaurants, cafes, and delivery services in Malaysia and Singapore.
Quick Overview:
Maynuu: F&B-specific tools, supports QR codes, GrabPay, FPX, PayNow, major credit cards, and Stripe. Fees start from 5% + RM1 (Malaysia) or 8% + S$0.50 (Singapore).
Stripe: Accepts cards, PayNow, and digital wallets with robust fraud detection. Fees for domestic cards are 3% + RM1.00 in Malaysia and 3.4% + S$0.50 in Singapore.
PayPal: Global reach with multi-currency support but higher fees (RM2.00 or 3.9% + S$0.50 for local transactions).
HitPay: SME-focused, supports PayNow, FPX, and in-person payments. Low fees: 1.2% + RM1 (Malaysia) or 0.9% (Singapore).
GrabPay: Strong in Southeast Asia with marketing perks but higher commissions (15–30% for standard transactions).
Quick Comparison Table:
| Payment Gateway | Key Features | Transaction Fees (SG) | Transaction Fees (MY) | Best For |
|---|---|---|---|---|
| Maynuu | QR codes, multi-outlet tools, GrabPay, FPX, PayNow | 8% + S$0.50 | 5% + RM1 | Small F&B businesses |
| Stripe | PayNow, cards, digital wallets, API | 3.4% + S$0.50 (domestic) | 3.4% + RM1 (domestic) | Tech-savvy businesses |
| PayPal | Global payments, QR codes, invoicing | 3.9% + S$0.50 | 3.9% + RM2.00 | International reach |
| HitPay | PayNow, FPX, POS integration | 0.9% | 1.2% + RM1 | SMEs and local payments |
| GrabPay | PayLater, marketing tools, loyalty rewards | 15–30% | 15–30% | High-volume QSRs |
Each gateway has its pros and cons, so choose based on your business size, transaction volume, and customer preferences.
1. Maynuu
Maynuu provides a payment gateway tailored for F&B businesses in Singapore and Malaysia. It combines payment processing with restaurant management tools, making online ordering, payment setup, and delivery easier to manage. You do not need to be a software developer to use it.
Key Payment Features
- Next-day settlement
- Works with Stripe for credit and debit card payments
- Supports GrabPay and PayNow for businesses in Singapore
- FPX online banking for Malaysian transactions
- Accepts cash and bank transfers
- Includes a QR code system for dine-in orders
Pricing and Fees
For businesses in Singapore, Maynuu offers two plans:
- D.I.Y. Plan: Free to use, with an 8% + S$0.50 platform fee per transaction.
- Done-For-You Plan: A one-time setup service priced at S$299 (discounted from S$499).
Singapore Payment Fees:
- Credit/Debit Cards: 8% + S$0.50
- GrabPay: 8% + S$0.50
- Bank Transfer: No fee
For Malaysian businesses, the Essential Package includes:
Malaysia Payment Fees:
- FPX Online Banking: 5% + RM1
- Cards & eWallets: 5% + 2%
- Cash/Bank Transfer: No fee
Importantly, businesses keep 100% of their revenue, with fees applying only to your customers' payment. You can choose to absorb some or all of this fee. This flexibility is not offered by any other platform.
Additional Features
Maynuu goes beyond payment processing with tools to improve operations. These include:
- Real-time order tracking
- Multi-outlet management
- Automated delivery integration
- A sales analytics dashboard
- Marketing features like discount coupons
Its user-friendly checkout process collects minimal customer information, speeding up registration and reducing cart abandonment.
2. Stripe
Stripe provides a payment processing solution tailored for F&B businesses in Malaysia and Singapore. With its developer-friendly platform and pay-as-you-go pricing model, Stripe is a popular choice for businesses in the region. It's not a "no-code" service so you must have access to a web developer in order to use it. Here's a breakdown of its features, fees, and integration options.
Key Payment Features
- Accepts major credit/debit cards, digital wallets, and local payment options.
- Real-time FPX processing for transactions in Malaysia.
- PayNow compatibility for businesses in Singapore.
- Instant payouts for eligible debit cards.
- Built-in fraud detection with Stripe Radar.
- Customisable checkout interface for a seamless customer experience.
Payment Methods and Fees
Below is Stripe's standard fee structure for Singapore-based F&B businesses:
| Payment Method | Transaction Fee |
|---|---|
| Domestic Cards | 3.4% + S$0.50 |
| International Cards | 3.9% + S$0.50 |
| GrabPay | 3.3% |
| PayNow | 1.3% |
| Digital Wallets (Alipay/WeChat Pay) | 2.2% + S$0.35 |
Additional charges may include:
- Currency conversion: 2%.
- Instant payouts: 1% (minimum S$0.50).
- Dispute handling: S$15.00 per dispute (refundable if resolved in your favour).
Integration Options
Stripe offers flexible integration methods. You can start quickly with payment links or invoicing, or opt for a custom solution using Stripe's API (hire a web programmer to do this for you). It also supports third-party integrations, such as Xero, for enhanced functionality.
Additional Benefits
- No setup or monthly fees.
- Supports payments in over 135 currencies.
- Automated invoicing system for receipts.
- Customised pricing available for businesses with high transaction volumes.
If your business processes a large number of transactions, Stripe allows you to negotiate tailored pricing based on your specific needs and transaction patterns.
3. PayPal
PayPal provides a tailored payment solution for F&B businesses in Malaysia and Singapore, offering a variety of payment options and tools to help manage operations effectively.
Key Payment Features
With PayPal, businesses can accept:
- Online payments through PayPal accounts
- Credit and debit card transactions
- Digital wallets like Apple Pay
- QR code payments
- Custom links for remote orders
- Integrated invoicing for streamlined billing
Transaction Fees and Charges
| Payment Type | Singapore (SGD) | Malaysia (MYR) |
|---|---|---|
| Local Commercial Transactions | 3.9% + S$0.50 | 3.9% + RM2.00 |
| International Transactions | 4.4% + S$0.50 | 4.4% + RM2.00 |
| Withdrawal Fee (Below Threshold) | S$1.00 (<S$200) | RM3.00 (<RM400) |
| Card Link and Confirmation | S$3.00 | RM10.00 |
Currency Conversion Charges:
- Payments and refunds: 4% above the base exchange rate
- Other conversions: 3% above the base exchange rate
Business Integration Options
PayPal integrates seamlessly with various tools that are essential for F&B businesses, such as:
- E-commerce platforms
- Accounting software
- Inventory management systems
- POS solutions
Additional Features
- Built-in fraud prevention systems
- Seller Protection for eligible transactions
- Real-time monitoring of transactions for added security
Setup Process
Getting started with PayPal is simple. Create a business account, verify your details, link your bank and card, and set up your payment options. You may need the help of a web developer to do the latter.
These features make PayPal a strong choice for F&B businesses in Singapore and Malaysia. Up next, we'll take a look at what HitPay has to offer.
Simplify Your F&B Business OperationsCreate your own online ordering platform with Maynuu. Manage menus, orders, payments, and deliveries seamlessly while keeping your profit margins. |
|
|---|---|
4. HitPay
HitPay, a licensed Major Payment Institution in Singapore, provides a single platform for handling online, in-person, and B2B transactions.
Payment Options
HitPay supports a wide range of payment methods, including:
- International cards: Visa, Mastercard, American Express, UnionPay
- Digital wallets: Apple Pay, Google Pay, ShopeePay, AliPay
- Malaysia-specific: FPX online banking
- Singapore-specific: PayNow QR, DBS PayLah!, GrabPay
Transaction Fees
| Payment Type | Singapore | Malaysia |
|---|---|---|
| Online Payments (<S$100) | 0.9% | 1.2% + RM1 |
| Online Payments (≥S$100) | 0.65% + S$0.30 | 1.2% + RM1 |
| In-Person Payments (<S$100) | 0.9% (min S$0.20) | 1.4% (min RM0.30) |
| In-Person Payments (≥S$100) | 0.65% + S$0.30 | 1.4% (min RM0.30) |
| International Cards | 2.8% + S$0.50 | 3% + RM1 |
Note: An additional 2% fee applies to foreign currency transactions.
Business Features and Integrations
HitPay offers a suite of tools to help businesses manage payments and operations efficiently:
- POS system with inventory tracking
- Integration with e-commerce platforms like Shopify and WooCommerce
- Payment APIs for custom solutions
- Free online store builder (more suitable for retail than restaurants)
- Customisable checkout pages
- Automated invoicing and recurring billing
- Payment link generation
- Direct bank deposits
- Support for cross-border payments with free local transfers
Getting Started
Starting with HitPay is straightforward and doesn't require upfront fees. Here's how to get set up:
- Sign up for a business account.
- Complete the verification process.
- Link your bank account.
- Select your preferred payment methods.
- Set up any necessary equipment for in-person transactions.
With its wide-ranging features and competitive fees, HitPay simplifies payment processes for F&B businesses. Up next, we’ll dive into GrabPay to explore additional payment options.
5. GrabPay
GrabPay is a popular payment solution tailored for F&B businesses in Singapore and Malaysia, tapping into a large Southeast Asian customer base. In Singapore alone, it had around 4.9 million users in 2022, giving merchants access to a broad audience.
Payment Features
GrabPay provides several useful features:
- PayLater: Lets customers split payments into 4 instalments.
- Next-day Settlement: Funds are deposited within 24 hours in Singapore and up to 5 working days in Malaysia.
- Secure Transactions: Includes one-time password verification and encryption for added safety.
- GrabMerchant Portal: A dashboard to track transactions and generate reports.
Transaction Fees
| Transaction Type | Commission Range |
|---|---|
| Standard Transactions | 15% - 30% |
| Online Payment Processing | 2.5% - 3% |
Fees depend on factors like business volume and location.
Integration Options
GrabPay supports various integration methods to suit different business needs:
- E-commerce Platforms: Works with Shopify, WooCommerce, Magento, and EasyStore.
- Direct API: Custom solutions for specific business requirements.
- Payment Partners: Ready-made options for retail outlets.
- QR Code System: Customised QR codes for fast implementation.
These options make it easy for businesses to adopt GrabPay and transition to digital payments.
Business Impact
GrabPay has shown measurable results for businesses. For example, Threebs, a Malaysia-based merchant, saw a 120% rise in sales for high-value items in Q1 2022 after introducing the PayLater feature. Similarly, TT Racing experienced a 583% month-on-month sales increase in June 2022.
"We managed to expand our customer segment, thanks to Grab's Online Merchant Directory that provides long-term visibility to us and acted as an additional entry point to drive users to our website. Within 12 months, we observed a 28% average QoQ increase in monthly transacting users."
– Spring Wong, Founder, HiBlendr
Marketing Benefits
GrabPay also offers marketing advantages:
- Online Merchant Directory: Boosts visibility within the Grab ecosystem.
- Promotional Campaigns: Regular initiatives to attract customers.
- Customer Analytics: Insights into transaction data and consumer behaviour.
- Fraud Protection: Advanced measures to secure transactions.
Its integration with the wider Grab ecosystem makes it a strong choice for F&B businesses aiming to grow their digital presence and cater to the increasing demand for cashless payments in Singapore and Malaysia.
Key Benefits and Limitations
Here’s a comparison of the strengths and weaknesses of popular payment gateways:
| Payment Gateway | Key Benefits | Key Limitations |
|---|---|---|
| Maynuu | • Integrated F&B menu support • No technical knowledge needed • Automated order handling • User-friendly interface • SSL security included • Next-day settlement |
• Charges customers for payment gateway usage • Delivery price variations passed to customers |
| Stripe | • Supports over 130 currencies • Advanced fraud detection tools • Real-time transaction tracking • Detailed API documentation |
• Requires technical skills for customisation • Complicated fee structure • Slower settlement for certain currencies (7 days or more) |
| PayPal | • Recognised globally • Multi-currency support • Buyer protection included • Straightforward integration |
• Higher transaction fees • Potential account stability issues • Longer resolution times for disputes |
| HitPay | • Designed for SMEs • Local payment options (e.g. PayNow) • Fast onboarding process • Transparent fee structure |
• Limited international payment support • Feature set still developing • Primarily focused on regional markets |
| GrabPay | • Strong presence in Southeast Asia • Boosted marketing visibility • Next-day settlement in Singapore • Built-in loyalty rewards system |
• Higher commission rates (15–30%) • Restricted to Grab's ecosystem • Longer settlement times in Malaysia |
Security Considerations
Security is a top priority, especially with online payment fraud costing S$55.3 billion in 2022. Modern payment gateways include features like AVS, CVV verification, real-time monitoring, and machine learning-based fraud detection to combat these risks. All gateways adhere to PCI DSS standards, ensuring compliance. Despite these measures, customer losses from fraud reached S$11.8 billion in 2022, marking a 30% rise from the previous year.
Integration Capabilities
Payment gateways offer seamless connections to digital ordering systems through key features:
| Feature | Local Payment Methods | API Customisation |
|---|---|---|
| Singapore | PayNow, NETS | Available |
| Malaysia | FPX, Touch 'n Go | Available |
These integration options enhance the functionality of the gateways, complementing their core payment services.
Currency Support
Managing multiple currencies is crucial for F&B businesses. Gateways like Stripe and PayPal handle SGD, MYR, and other currencies, making them versatile for international transactions. Meanwhile, HitPay and GrabPay focus on regional currencies, offering local bank settlements for smoother operations.
Selecting the right gateway depends on your transaction volume, technical capabilities, and target market.
Recommendations by Business Type
Pick a payment gateway that fits your business model. Different businesses have unique needs, and the right gateway can make a big difference.
Small Cafes and Independent Restaurants
For small cafes, it's important to have:
- Support for local payment options
- Clear and upfront fee structures
- Fast and secure transactions
Maynuu and HitPay are solid options here, as they support both local and international payment methods, making it a great choice for SMEs aiming to simplify their payment processes.
Multi-Location Restaurant Chains
Chains with multiple locations require:
- Centralised control with real-time updates
- Support for multiple currencies and local bank settlements
- Scalable APIs and access for multiple users
If you have a web developer in your team, we recommend going with GrabPay. Otherwise if you prefer to D.I.Y., Maynuu is the non-technical person's choice.
Delivery-Focused Businesses
With the surge in online food delivery, look for gateways that provide:
- Support for various payment methods, including cards, wallets, and BNPL options, with strong security
- Mobile-friendly interfaces for a smooth customer experience
One restaurant chain with over 700 locations successfully integrated payment options like credit/debit cards and digital wallets (Apple Pay, Google Pay, PayPal), improving both transaction speed and security.
In this case you may want to implement Stripe, and have a software developer handle all the technical complexities for you. If you are in Malaysia or Singapore and want delivery ordering + payment gateway, Maynuu handles it for you out of the box.
Quick-Service Restaurants (QSRs)
QSRs need systems that can handle high transaction volumes and offer fast, contactless payment options. Focus on gateways with:
- Quick processing speeds
- Reliable QR code payment integration
GrabPay is a great fit for QSRs, offering a seamless and efficient payment experience tailored to their fast-paced operations. It's a great fit for big chains or investor-backed establishments who want the exposure and can afford the high transaction fees.
---
We use the term 'restaurant' throughout the article for consistency. However this guide can be generally applied to any type of food shop, including but not limited to: bakeries, bars, bistrots, boulangeries, butcheries, cafés, cantinas, caterers, coffeeshops, delis, diners, eateries, food trucks, grocers, patisseries, pubs, and more.
Maynuu
❇️ Enable online ordering for your restaurant today - it's FREE, no credit card required.
