Razorpay launches first international payment gateway in Malaysia

Tags: International News

Fintech firm Razorpay launched its first international Razorpay gateway in Malaysia in partnership with Curlec.

An Overview of the News

• The payment gateway aims to serve over 5,000 businesses in Malaysia and achieve 10 billion RM (Malaysian Ringgit) in annual gross transaction value (GTV) by 2025.

• The payment gateway provided by Curlec simplifies payment collection and automates payments for businesses of all sizes.

• The move by Razorpay follows the acquisition of a majority stake in Malaysia-based startup Curlec in February 2022.

• Digital business in Malaysia currently contributes 22.6% to the country's GDP.

• It is projected that the contribution of digital trade to Malaysia's GDP will increase to 25.5% by 2025.

About Razorpay

• Establishment - 2013

• Founder - Shashank Kumar, Harshil Mathur

• CEO - Harshil Mathur

• Headquarters - Bangalore, India