Paddle pioneered the enterprise SaaS Merchant-of-Record. Malum brings the same MoR safety net to indie founders, high-risk verticals and crypto-native merchants — without the sales-call gauntlet and with payouts in your wallet within minutes.
Paddle is built for established SaaS companies who want a regulated MoR partner and a long sales cycle. Malum is built for anyone — sign up, take payments today, get paid in crypto in minutes — and is happy to act as MoR without enterprise gatekeeping.
Paddle's onboarding usually starts with a demo and an approval cycle. Malum lets you create an account, configure checkout and accept your first payment the same day.
Paddle pays out fiat to a registered business bank, on a payout schedule. Malum settles to the wallet you control, in the crypto you nominate, in minutes.
Paddle's acquiring is geared toward classic SaaS. Malum supports digital goods, gaming, top-ups, services, content and other verticals that Paddle's underwriting routinely declines.
| Feature | Malum | Paddle |
|---|---|---|
| Merchant of Record | Yes | Yes |
| Payout currency | Crypto (USDT, USDC, BTC, ETH + 30 more) | Fiat to a registered business bank |
| Payout speed | Minutes, 24/7 | Monthly or fortnightly, weekdays |
| Onboarding | Self-serve, minutes | Sales-call onboarding, days to weeks |
| Vertical coverage | SaaS, digital goods, gaming, services, content, top-ups | SaaS, software, digital goods |
| Subscription billing | Supported | Supported (Paddle Billing) |
| Crypto checkout | Native | No |
| Chargeback liability | Absorbed by Malum once crypto settles | MoR absorbs disputes, but they affect reserves and payouts |
| Pricing | Flat published merchant discount | 5% + 50¢ on Paddle Billing |
| Minimum commit | None | Custom contracts and commits for enterprise tier |
| Plugin ecosystem | Shopify, WooCommerce, SellAuth, REST API | Paddle.js, native API, billing SDKs |
Paddle is structured around onboarding established SaaS companies that can sustain a multi-week approval process. Malum is structured around self-serve onboarding for any merchant who can pass standard sanctions / AML checks.
Paddle pays out fiat monthly (default) or fortnightly to a registered business bank account, on weekdays only. Malum settles each transaction in crypto within minutes, regardless of timezone or banking calendar.
Paddle's policy is calibrated for classic SaaS. Verticals like gaming top-ups, server access, certain content categories and high-volume digital goods regularly fall outside what Paddle will underwrite.
Malum's settlement model — card in, crypto out — means risk doesn't accumulate as merchant balance, which lets Malum support a broader policy without per-account custom negotiation.
Both platforms act as the seller of record on each transaction, which delivers:
Get the Merchant-of-Record coverage Paddle gives you — without the sales process, the wait time or the fiat-only payout.
Comparisons are based on publicly available information from each provider's website and product documentation at the time of writing and are provided for informational purposes only. Trademarks and brand names are the property of their respective owners; their use here is purely descriptive and does not imply endorsement, affiliation, or partnership. Pricing, fees, payout times, supported regions and product features change frequently — always verify directly with each provider before making a decision.