Razorpay, an Indian fintech startup, has achieved a significant milestone by introducing the first international Payment Gateway developed for the Malaysian market in collaboration with Curlec. This breakthrough not only establishes Razorpay’s presence beyond India but also signifies a major advancement for the entire Indian fintech sector. By addressing the common challenges faced by emerging economies like India and Malaysia, Razorpay aims to enhance financial inclusion, accelerate digital payment adoption, and strengthen local payment infrastructure.
Merging Cutting-Edge Technology and Local Expertise: Curlec by Razorpay combines India’s renowned technological capabilities with a deep understanding of the Malaysian payments ecosystem. This collaboration offers Malaysian businesses a comprehensive payment gateway that facilitates payment acceptance, streamlines payouts, and allows them to prioritize their customers. Leveraging the proven technology behind Razorpay, which already empowers 10 million businesses in India, the newly launched Curlec Payment Gateway promises to deliver an unparalleled payment experience for Malaysian enterprises.
Targeting Malaysian Businesses: The Curlec Payment Gateway is set to cater to over 5,000 businesses in Malaysia, with a projected annual Gross Transaction Value (GTV) of RM10 billion by 2025. Having made a significant impact on the recurring payments industry in Malaysia over the past five years, Curlec has now transformed into a full-stack digital payment gateway. Noteworthy Malaysian companies such as Tune Protect, CTOS, Courts, Mary Kay, and The National Kidney Foundation are already partnering with Curlec, establishing its credibility and reach in the market.
South-East Asia’s Digital Payment Potential: South-East Asia, including Malaysia, has emerged as a dynamic digital payment hub, with Malaysia showcasing one of the region’s fastest-growing digital economies. Recent reports indicate that digital trade in Malaysia contributes 22.6% to the country’s GDP, and this figure is projected to rise to 25.5% by 2025. By embracing digital technology and harnessing digital trade opportunities, Malaysia has the potential to witness a remarkable 150% increase in economic activity, amounting to $52.7 billion by 2030. Factors such as Malaysia’s thriving digital economy, widespread mobile-phone penetration, and government support for the digital sector have fueled this growth. The presence of Malaysia’s real-time payments system, known as DuitNow, has further accelerated the acceptance of cashless payments, especially mobile transactions.
A Promising Future: Curlec by Razorpay brings together the best of both worlds by leveraging Razorpay’s proven technology and Curlec’s extensive experience. This powerful solution simplifies payment collection, automates payouts, and empowers businesses across Malaysia. Committed to collaboration, innovation, and customer-centricity, Razorpay is poised to unlock the potential of digital payments and contribute to Malaysia’s thriving economy. While venturing into the international market with Curlec by Razorpay, the company remains dedicated to strengthening India’s digital infrastructure.
Razorpay’s launch of an international Payment Gateway in partnership with Curlec demonstrates its commitment to simplifying and enhancing the global payments landscape. By combining cutting-edge technology with local expertise, Razorpay aims to revolutionize the payment experience for businesses in Malaysia. This strategic move aligns with Malaysia’s digital economic growth and reinforces Razorpay’s position as a leader in the fintech industry, both domestically and internationally.
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