Indian Fintech Razorpay Introduces Global Payment Gateway with Curlec

Razorpay says they have always believed that simplifying payments is a universal problem.

Businesses across the world grapple “with the same question: how can my payments experience be simpler, faster, and more efficient?”

At Razorpay, they took this challenge head-on in India, “solving for tens of thousands of growing businesses as they embraced a bold, new digital future.” Now, they carry “that same spirit of innovation beyond our own shores.”

They are announcing that Razorpay has “broken new ground, becoming the first Indian startup to launch an international Payment Gateway, developed for the Malaysian market with Curlec – now known as ‘Curlec by Razorpay’.”

According to the firm, this is a giant leap forward not just for Razorpay but for “all Indian fintechs: They are not just building for India, they are building for the world,”

Today, emerging economies “like India, Malaysia, and other countries in South-East Asia work with similar challenges of driving financial inclusion, increasing digital payment adoption amongst consumers and businesses and strengthening local payments infrastructure.”

To solve for these challenges, the team at Razorpay are “committed to working in close partnership with local banks and regulators to launch new fintech innovations.”

At the same time, they will work closely “with businesses to ensure that they are equipped with best solutions for accepting payments and have access to the world’s best financial infrastructure through Razorpay.”

Curlec by Razorpay combines India’s tech capabilities “with a deep local understanding of the Malaysian payments ecosystem.”

It aims to provide businesses “with a payment gateway that accepts payments, automates payouts and helps them focus on their customers.”

By harnessing the Razorpay technology that powers 10 million businesses in India, the all-new Curlec Payment Gateway will “offer a superior payment experience for Malaysian businesses.”

Their 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.”

They see great potential in South-East Asia, and they “recognize the power of payments in Malaysia and what it means for businesses of any kind and size.”

The new Curlec Payment Gateway aims to serve over 5,000 businesses in Malaysia, “targeting an annualized Gross Transaction Value (GTV) of RM10 billion by 2025.”

Curlec, which has “disrupted the recurring payments industry in Malaysia over the past five years, has now evolved from a pure recurring payments player into a full-stack digital payment gateway.”

The company already “collaborates with over 700 Malaysian businesses, including leading names such as Tune Protect, CTOS, Courts, Mary Kay, and The National Kidney Foundation.”

With the launch of our Payment Gateway, ‘Curlec by Razorpay,’ they 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.”

Today, South-East Asia is “a digital payment powerhouse, with Malaysia one of the fastest-growing digital economies in the region.”

According to recent reports, digital trade in Malaysia today “contributes 22.6% to the country’s GDP and is expected to rise to 25.5% by 2025.”

As noted in the update:

“By boosting digital technology adoption and leveraging digital trade opportunities, Malaysia and its businesses have the potential to achieve a remarkable 150% increase in economic activity, reaching $52.7 billion by 2030, according to industry sources. The growth is driven by Malaysia’s fast-growing digital economy, high mobile-phone penetration rate, and strong government support for the digital economy. Malaysia’s real-time payments system, also known as DuitNow, is another key catalyst for merchant acceptance of cashless payments and has significantly aided the emergence of mobile transactions. The scope and need for more robust, reliable, and advanced payment solutions in these regions is, therefore, undeniable.”

Their collaboration with Curlec marks “a significant milestone in the digital payment landscape of Malaysia.”

With Razorpay’s technology and Curlec’s extensive experience, Curlec by Razorpay offers a powerful solution “that simplifies payment collection, automates payouts, and empowers businesses in Malaysia.”

With a focus on collaboration, innovation, and customer-centricity, they at Razorpay are “ready to unlock the potential of digital payments and contribute to Malaysia’s thriving economy.”

With Curlec by Razorpay, they have “stepped into the international market.”

As they take their tech capabilities to the world, they remain “as committed as ever to strengthening the digital infrastructure of India.”

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