Razorpay launches first international payment gateway in Malaysia

Daily Current Affairs / Razorpay launches first international payment gateway in Malaysia

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Category : Business and economics Published on: July 18 2023

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Fintech firm Razorpay has launched its first international payment gateway for the Malaysian market with Curlec.
The new Curlec Payment Gateway will serve more than 5,000 businesses with a target of RM (Malaysian Ringgit) 10 billion in annualized Gross Transaction Value (GTV) by 2025.
The service simplifies payment collection, automates payouts, and helps businesses of all sizes to control cash flows.
In February 2022, Razorpay acquired a majority stake in the Malaysia-based startup which is now known as Curlec by Razorpay
As per the report, digital trade in Malaysia contributes 22.6% to the country’s GDP and is expected to rise to 25.5% by 2025.