Razorpay launches first international payment gateway in Malaysia

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.
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