Curlec by Razorpay Launches Revolutionary Payment Gateway in Malaysia

Curlec by Razorpay Launches Revolutionary Payment Gateway in Malaysia

July 13, 2023 0 By Rowena Cletus

Curlec, a Malaysian fintech company that made waves in the recurring payments sector, has undergone a significant transformation since being acquired by Indian Fintech Unicorn Razorpay last year. It has evolved from a dedicated recurring payments solution to a comprehensive payment gateway catering to businesses of all sizes. The all-new Curlec Payment Gateway, powered by Razorpay’s cutting-edge technology, aims to provide Malaysian merchants with a seamless payment experience while automating payouts and enabling them to focus on their customers.

With Malaysia’s booming digital economy, expected to reach a Gross Merchandising Value of $35 billion by 2025, and a high mobile phone penetration rate, Curlec envisions serving more than 5,000 businesses with a target of RM10 billion in annualized Gross Transaction Value (GTV) by 2025. Additionally, the strong government support for the digital economy and the emergence of the real-time payments system, DuitNow, have further facilitated the adoption of cashless payments and mobile transactions among merchants.

The expansion of Curlec into a full-stack payment solutions provider in Malaysia is driven by the demand for more robust, reliable, and advanced payment solutions in the region. Leveraging Razorpay India’s industry-first solutions and extensive experience across multiple sectors, Curlec plans to incorporate innovative technologies that have proven successful in the Indian market.

Shashank Kumar, Managing Director & Co-Founder of Razorpay, expressed excitement about the launch of their first international payment gateway in Malaysia, acknowledging the potential of the Southeast Asian market. He emphasized the importance of collaboration, innovation, and customer-centricity in unlocking the potential of digital payments and driving economic growth in Malaysia.

Zac Liew, Co-Founder & CEO of Curlec by Razorpay, highlighted the significance of this offering for Malaysian businesses, stating that the Curlec Payment Gateway marks a new chapter for the company as a full-stack payment solutions provider. With the integration of Curlec’s expertise and Razorpay India’s technology, they aim to achieve 10x growth by 2025 and provide an unrivaled payment experience to their customers.

Curlec by Razorpay has already gained the trust of over 700 businesses, including major brands such as Tune Protect, CTOS, Courts, Mary Kay, and The National Kidney Foundation. By simplifying payments and offering industry-first solutions, Curlec intends to continue its focus on customer needs and support Malaysian businesses in scaling seamlessly.

As Curlec launches its revolutionary payment gateway, it promises to revolutionize how Malaysian businesses and end-consumers engage and transact. With their vision for collaboration, innovation, and customer-centricity, Curlec by Razorpay aims to drive economic growth and propel digital payments forward in Malaysia.