Daily Markup

Daily Markup #870: Curlec by Razorpay joins PayNet to help transition Malaysia into a fully cashless society

November 9, 2023 · 2 min read
Photo credit: The Edge Malaysia

Payments Uncompromised 

  • Malaysia’s national payments network and infrastructure, Payments Network Malaysia (PayNet) welcomed its newest member, 500-backed fintech platform Curlec by Razorpay!
  • Curlec by Razorpay is a full-stack, business-to-business (B2B) payments solution provider, and the team will now be helping Malaysia to transition into a fully cashless society.
  • This collaboration allows Curlec’s customers to make and receive real-time payments from bank accounts and e-wallets.
  • Zac Liew, Co-founder & CEO shared, “Since the launching of the Curlec Payment Gateway in July, we are now processing RM2 billion annually and serving over 1,000 merchants. This sets the platform for Curlec to bring further innovation to Malaysia’s digital payment landscape, as well as scale DuitNow to the next level with our expertise in real-time payments — both in India and Malaysia.”
  • “The target growth for Malaysia’s digital payments sets the path for the Curlec Payment Gateway’s target to serve more than 5,000 businesses, with RM10B annualized gross transaction value by 2025,” he added.
  • Curlec’s payment approach, ‘Payments Uncompromised’, is currently being used by over 1,000 businesses, including some of Malaysia’s most prominent brands like Tune Protect, CTOS, Mary Kay, and the National Kidney Foundation.
  • Read the full story on The Edge Malaysia.
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