Razorpay, India’s fintech giant and leading Full-Stack Payments and Business Banking Platform launches its first international payment gateway for the Malaysian market with Curlec, now known as ‘Curlec by Razorpay’ to solve digital payment problems in emerging markets.
Curlec has rocked the Malaysian recurring payments industry over the last five years, and is poised to redefine how Malaysian businesses take digital payments by transitioning from a pure recurring payments player to a full-stack digital payment gateway. The company presently collaborates with over 700 Malaysian businesses, including well-known brands such as Tune Protect, CTOS, Courts, Mary Kay, and The National Kidney Foundation. The new Curlec Payment Gateway will serve over 5,000 enterprises, with a target annualised Gross Transaction Value (GTV) of RM10 billion by 2025.
Razorpay, armed with a thorough understanding of digital payments, intends to usher in a revolutionary shift in Malaysia’s payments industry. Razorpay promises to include the same new technologies that have successfully made their mark in the Indian market for Malaysia by using its cutting-edge solutions and substantial experience. Malaysian firms will now have access to a technology that streamlines the money-collecting process, automates payouts, and enables businesses of all sizes to regulate their cash flow.
Commenting on the launch of its First International Payment Gateway in Malaysia, Shashank Kumar, MD & Co-Founder, Razorpay India said, “We have always been aware that simplifying payments is a universal problem. We see great potential in SEA, we recognise the power of payments in Malaysia and what it means for businesses of any kind and size. We firmly believe that our extensive experience in operating within the diverse and dynamic market of India has prepared us to tackle different challenges and solve payment problems on a global scale. And so today, we are really excited to announce our first international Payment Gateway in Malaysia. When we joined forces with Curlec, our one single vision was to build products catering to the needs of the SEA region, and today the Curlec Payment Gateway is a first step in that direction. It is incredible to witness the scale and impact Zac, Steve & Team have created in the last year.”
Kumar added, “We believe the new PG in Malaysia will revolutionise how businesses & end-consumers have transacted and interacted with the money thus far. Having witnessed India’s payment geography and finding similarities with Malaysia, I can boldly say that collaboration, innovation, and customer-centricity will be the three keys to unlocking the potential of digital payments and driving economic growth in Malaysia.”
Zac Liew, Co-Founder & CEO, Curlec said, “We are very excited about bringing a first-of-its-kind offering for our Malaysian businesses. With the launch of our Payment Gateway, ‘Curlec by Razorpay’, we are now a full-stack payment solutions provider, combining the might of both worlds – world-class tech capabilities and an understanding of the local payment ecosystem. In the recent past, Curlec has enjoyed significant traction in insurance, lending, and savings, having tracked a 110% increase in transaction volumes. In the next two years, we expect Curlec to provide an unrivaled payment experience for our customers and target a growth of 10X.”
“Driven by the goal of simplifying payments for Malaysian startups and enterprises, Curlec will continue to build a stronger focus on customer needs, and the new PG will serve our Malaysian businesses with industry-first solutions, uncompromised support, and help scale their businesses seamlessly,” Liew added.
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