Billiat was nominated for a composed finish in the box in a 1-0 win over Platinum Stars at Royal Bafokeng Stadium on October 1.
Matlaba got his goal against the same opposition with a thumping drive in a 1-1 stalemate at FNB Stadium on October 18.
Chiefs striker Bernard Parker was recognised for cooly slotting home past Denis Onyango in a 2-1 defeat of Mamelodi Sundowns at Loftus Versfeld Stadium the day before.
Amakhosi teammate George Maluleka turned heads when he rattled a shot in off the upright in a 2-1 loss to Baroka at Moses Mabhida Stadium on September 30.
AmaZulu's Rhulani Manzini, Polokwane City's Ndivhuwo Ravhuhali, SuperSport United's Aubrey Modiba, Bloemfontein Celtic's Kabelo Mahlasela, Baroka's Gift Motupa and Golden Arrows' Thomas Chideu are also vying for the prize.
Fans can vote for the winner on the PSL's website.